China’s PMI is up to 50.2 in February, signaling the acceleration of production activities: Statistics

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China (PMI) purchase managers index increased to 50.2 in February, up 1.1 percentage points compared to January, according to data published by the National Bureau of Statistics on Saturday. Increasing signals that accelerate production activities.

Zhao Qinghe, a senior office statisticist, attributed to increase the accelerated resumption of business after the vacation of the spring festival. As companies have raised operations and accelerated production, the production demand showed a constant recovery, according to Zhao.

Among the key sub-indexes, the production index increased to 52.5, a jump of 2.7 percentage points compared to last month, while the new order index increased to 51.1, up 1.9 percentage points compared to January, indicating a healthier market demand. The index of delivery time of the supplier reached 51.0, increasing by 0.7 percentage point compared to January, which suggests an acceleration of the deliveries of manufacturing materials.

The inventory index of raw materials stayed at 47.0, while the employment index reached 48.6, up 0.5 percentage points in January, signaling a gradual improvement of the feeling of employment.

The PMI increase in February indicates the return trajectory of the economy of China, as reflected in constant improvements in market demand, production, services and construction, Wang Peng, an associated research colleague at the Beijing Academy of Social Sciences, for The Global Times.

The PMI that is not manufactured in China has increased by 0.2 percentage points to 50.4, and the PMI Composite climbed to 51.1, increasing by 1 percentage compared to the previous month.

With all the three calibers returning to the expansion territory, it is suggested that the level of general economic prosperity of the country improves, Zhao said.

As a key indicator of macroeconomics, the PMI growth signals a stronger economic activity and confidence in the market in China, Wang said, adding that while growing in March.

The increase of the PMI from February in China reflects the consolidation of the market demand and the extension of the production activities at national level, determined by political measures to stimulate economic growth, Wang said. “Such measures will help to unleash the potential of the market and will stimulate economic growth,” he added.

Global times