New figures from China show strong signs of a rebound in consumer demand. The manufacturing industry grew for a second month in a row, spurred by a drop in the number of new coronavirus cases and an end to the country's zero-COVID policy.
The National Bureau of Statistics says the manufacturing sector Purchasing Managers' Index rocketed in February to 52.6 from 50.1.
The 50-point mark separates growth from contraction.
The PMI is based on a survey of 3,200 manufacturers.
The non-manufacturing sector PMI jumped from 54.4 to 56.3. That was also a second straight month of growth. The increase was partly driven by an upswing in the service industry, including transport and hotels.
The National Bureau of Statistics says the manufacturing sector Purchasing Managers' Index rocketed in February to 52.6 from 50.1.
The 50-point mark separates growth from contraction.
The PMI is based on a survey of 3,200 manufacturers.
The non-manufacturing sector PMI jumped from 54.4 to 56.3. That was also a second straight month of growth. The increase was partly driven by an upswing in the service industry, including transport and hotels.
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Summary
China's consumer demand is rebounding, with the manufacturing sector experiencing growth for two consecutive months due to a decrease in new coronavirus cases and the end of the zero-COVID policy. The Manufacturing Purchasing Managers' Index significantly increased from 50.1 to 52.6, indicating
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ID: f156ff22-a8df-4a84-9682-761ac73c603f
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20230301_26/
Date: March 1, 2023
Created: 2023/03/01 19:54
Updated: 2025/12/09 06:50
Last Read: 2023/03/01 21:03