Important metrics indicate accelerating momentum in China's economic recovery
Key indicators suggest that China's economic recovery is picking up speed.
TroibNews 
China's economic recovery accelerated in February, as indicated by the robust performances of the purchasing managers' index (PMI) in both the manufacturing and non-manufacturing sectors, experts reported on Saturday.
Official data showed that the PMI for China's manufacturing sector was recorded at 50.2 in February, representing an increase of 1.1 percentage points from the previous month and signaling a return to the expansion zone. A PMI reading above 50 suggests growth, while a reading below 50 indicates contraction.
Zhao Qinghe, a statistician from the National Bureau of Statistics (NBS), noted that the February PMI figures were influenced by several factors, including businesses resuming operations after the Spring Festival holiday.
Further NBS data revealed that the sub-indices for production and new orders were at 52.5 and 51.1, respectively. The PMI for the equipment manufacturing sector and high-tech manufacturing sector were recorded at 50.8 and 50.9, according to the NBS.
Additionally, the PMI for China's non-manufacturing sector stood at 50.4 in February, reflecting an increase of 0.2 percentage points from January and remaining in expansion territory, as per official data.
Zhao highlighted that business activity indices in sectors such as air transport, postal services, telecommunications, radio, television, satellite transmission services, as well as monetary and financial services, and capital market services remained above 55 in February, signaling strong growth in overall business volume.
However, he also noted a significant decline in the business activity indices related to consumer spending, particularly in retail, accommodation, and catering, influenced by factors such as intensive purchasing ahead of the Spring Festival and diminishing holiday effects in the post-festival period.
In February, the construction sub-index was recorded at 52.7, an increase of 3.4 percentage points from the previous month, according to NBS data. The composite PMI for China was 51.1 in February, up 1 percentage point from the previous month, as confirmed by the NBS.
All three key indicators—PMI for both the manufacturing and non-manufacturing sectors, along with the composite PMI—remained in expansion territory for February, indicating that the overall recovery is gaining momentum, Zhao explained.
Wen Tao, an analyst at the China Logistics Information Center, commented, "The recovery in February's manufacturing PMI is a structural one, backed by seasonal factors and a combination of policies, driven by both the supply and demand sides." The analyst also pointed out that several sub-indices reached new recent highs last month, suggesting a high-quality economic recovery.
Rohan Mehta for TROIB News
Official data showed that the PMI for China's manufacturing sector was recorded at 50.2 in February, representing an increase of 1.1 percentage points from the previous month and signaling a return to the expansion zone. A PMI reading above 50 suggests growth, while a reading below 50 indicates contraction.
Zhao Qinghe, a statistician from the National Bureau of Statistics (NBS), noted that the February PMI figures were influenced by several factors, including businesses resuming operations after the Spring Festival holiday.
Further NBS data revealed that the sub-indices for production and new orders were at 52.5 and 51.1, respectively. The PMI for the equipment manufacturing sector and high-tech manufacturing sector were recorded at 50.8 and 50.9, according to the NBS.
Additionally, the PMI for China's non-manufacturing sector stood at 50.4 in February, reflecting an increase of 0.2 percentage points from January and remaining in expansion territory, as per official data.
Zhao highlighted that business activity indices in sectors such as air transport, postal services, telecommunications, radio, television, satellite transmission services, as well as monetary and financial services, and capital market services remained above 55 in February, signaling strong growth in overall business volume.
However, he also noted a significant decline in the business activity indices related to consumer spending, particularly in retail, accommodation, and catering, influenced by factors such as intensive purchasing ahead of the Spring Festival and diminishing holiday effects in the post-festival period.
In February, the construction sub-index was recorded at 52.7, an increase of 3.4 percentage points from the previous month, according to NBS data. The composite PMI for China was 51.1 in February, up 1 percentage point from the previous month, as confirmed by the NBS.
All three key indicators—PMI for both the manufacturing and non-manufacturing sectors, along with the composite PMI—remained in expansion territory for February, indicating that the overall recovery is gaining momentum, Zhao explained.
Wen Tao, an analyst at the China Logistics Information Center, commented, "The recovery in February's manufacturing PMI is a structural one, backed by seasonal factors and a combination of policies, driven by both the supply and demand sides." The analyst also pointed out that several sub-indices reached new recent highs last month, suggesting a high-quality economic recovery.
Rohan Mehta for TROIB News
