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China PMI February 2023

China: Manufacturing PMI hits highest reading since April 2012 in February

The National Bureau of Statistics’ Manufacturing Purchasing Managers’ Index (PMI) rose to 52.6 in February from January’s 50.1. February’s result marked the best reading since April 2012. As a result, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in manufacturing sector operating conditions compared to the previous month. The headline print reflected recoveries in production, new orders and employment.

Meanwhile, the National Bureau of Statistics’ non-Manufacturing PMI stood at 56.3 in February, up from January’s 54.4 on improving dynamics in construction and services.

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