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Financial News: China Manufacturing Sector Accelerates In February - Caixi

China Manufacturing Sector Accelerates In February - Caixin

02/29/2024 - 20:59:00 (RTTNews)

(RTTNews) - The manufacturing sector in China continued to expand in February, and at a slightly faster rate, the latest survey from Caixin revealed on Friday with a manufacturing PMI score of 50.9.

That's up from 50.8 in January, and it moved further above the boom-or-bust line of 50 that separates expansion from contraction.

Helping to nudge the headline index higher was a slightly quicker rise in manufacturing production across China during February. Though modest, the rate of output growth was the fastest seen since May 2023, with companies generally attributing this to a sustained improvement in market conditions and greater new order volumes.

The total amount of new work placed with Chinese goods producers also rose at a quicker pace in February, albeit one that remained marginal overall. The upturn was partly driven by a second successive monthly increase in new export business, albeit only slight, with firms citing an improvement in underlying global demand conditions.

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