China’s manufacturing activity expanded more than expected in February and marked the fastest pace since April 2012, official data showed on Wednesday, as consumer sentiment gathered momentum on easing of the country’s COVID-19 restrictions. The official manufacturing purchasing managers’ index (PMI) stood at 52.6 against 50
BEIJING, March 1 (Reuters) - China’s manufacturing activity expanded more than expected in February and marked the fastest pace since April 2012, official data showed on Wednesday, as consumer sentiment gathered momentum on easing of the country’s COVID-19 restrictions.
The official manufacturing purchasing managers’ index (PMI) stood at 52.6 against 50.1 in January, according to data from the National Bureau of Statistics, above the 50-point mark that separates expansion and contraction in activity on a monthly basis，and far exceeded a forecast of 50.5.
The world’s second-largest economy recorded one of its worst years in nearly half a century in 2022 due to strict COVID lockdowns and subsequent widespread infections.