According to data released by the China Federation of Logistics and Purchasing, the China Manufacturing Purchasing Managers Index (PMI) was 49% in February, up 3.7 percentage points from the previous month.
The manufacturing PMI is a comprehensive indicator consisting of 12 indices including new orders, production, inventory and finished goods inventory. The PMI index is higher than 50%, reflecting the overall expansion of the economy; below 50%, reflecting the economic recession.
The survey of more than 700 manufacturers shows that although the PMI index continued to be below 50% in February, the index has rebounded for three consecutive months since December last year, compared with the lowest point set in November last year. Compared, it has risen by 10 percentage points.
According to the China Federation of Logistics and Purchasing, the PMI index shows that the current signs of a rebound in China's economy have become more apparent – ​​domestic demand has started; the downward trend in exports has been curbed, moving toward stability and rising; industrial production is accelerating; The economy in the central and western regions is accelerating recovery; some industries are on the rise.
The sub-indicators showed a general upward trend, especially the production index, new order index, new export order index, backlog order index, purchase volume index, and purchase price index rose most significantly, with an increase of more than 5 percentage points.
In February, the new orders index rose by 5.4 percentage points from the previous month to 50.4%. The new export orders index rose to 43.4%, up 9.7 percentage points from January, the most obvious increase since September last year. The production index in February was 51.2%, up 5.7 percentage points from the previous month, the largest increase in recent years.
The China Federation of Logistics and Purchasing also said that the data changes in February may also be affected by seasonal factors. Although the new order index and the production index stand on the 50% threshold, it is still not assertable.