A factory producing toy bricks is pictured in Shantou City, south China\’s Guangdong Province, Dec. 2, 2021. (Xinhua/Deng Hua)
BEIJING, March 1 (Xinhua) — The purchasing managers\’ index (PMI) for China\’s manufacturing sector came in at 50.2 in February, up from 50.1 in January, data from the National Bureau of Statistics (NBS) showed Tuesday.
A reading above 50 indicates expansion, while a reading below reflects contraction.
\”With rising demand and sound market expectations, business performance improved in February,\” said NBS senior statistician Zhao Qinghe.
In February, the sub-index measuring purchase prices of major raw materials rose 3.6 percentage points to 60. The sub-index for prices at the factory gate was 54.1, up 3.2 percentage points from January.
The sub-index for production reached 50.4, down 0.5 percentage points from a month ago but has remained in the expansion area for four consecutive months.
Tuesday\’s data also showed that the PMI for China\’s non-manufacturing sector came in at 51.6 in February, up from 51.1 in January.