China's February Manufacturing PMI at 50.2... Shift to 'Economic Expansion' Phase
Announcement from China's National Bureau of Statistics... Up 1.1 points from the previous month
An indicator showing China's economic trends
Above 50 means "economic expansion"
The Manufacturing Purchasing Managers' Index (PMI), which indicates China's economic trends, rose for the first time in a month, returning to the 'economic expansion' phase.
On the 1st, China's National Bureau of Statistics announced that the country's manufacturing PMI for February was recorded at 50.2, up 1.1 points from the previous month.
The PMI, compiled based on surveys of corporate purchasing managers, is an indicator showing economic trends in the relevant sector. A value above 50 indicates economic expansion, while below 50 indicates contraction.
China's manufacturing PMI, which had remained in a contraction phase for five consecutive months since May last year, returned to the expansion phase at 50.1 in October last year after the authorities repeatedly expressed their intention to stimulate the economy, maintaining above 50 for three consecutive months before falling to 49.1 in January.
By company size, the large enterprise PMI rose 2.6 points from the previous month to 52.5. However, the medium-sized enterprise PMI was 49.2 and the small enterprise PMI was 46.3, down 0.3 points and 0.2 points respectively compared to the previous month.
Among the five major indices that make up the manufacturing PMI, the production index rose 2.7 points from the previous month to 52.2, and the new orders index (51.1, up 1.9 points) and supplier delivery time index (51.0, up 0.7 points) also remained above the baseline.
The employment index rose 0.5 points from the previous month to 48.6 but remained below the baseline. The raw materials inventory index (47.0, down 0.7 points) continued its downward trend.
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The non-manufacturing PMI, composed of construction and service sectors, rose 0.2 points from the previous month to 50.4 in February. By sector, the construction business condition index rose 3.4 points to 52.7, while the service business condition index fell 0.3 points to 50.0. The combined PMI for manufacturing and non-manufacturing sectors in China for February was 51.1, up 1.1 points from the previous month.
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