Factory activity across China grew in February at the fastest pace in more than a decade, as the economy rebounded following the lifting of anti-coronavirus restrictions that kept millions of Chinese indoors and disrupted travel and trade, two surveys showed Wednesday.
This came in the wake of a decline in activity that led to a decline in economic growth last year to 3 percent, the second lowest level since the seventies of the last century.
“Operations have rebounded and customer demand has risen,” Caixin said in a statement.
The Caixin BMI rose to 51.6 from 49.2 in January on a 100-point scale.
Indicators over 50 points show increased activity.
Caixin said this was the first improvement in seven months, and the second in 21 months.
The purchasing managers’ index, released by China’s National Bureau of Statistics, rose to 52.6 from the previous month’s 50.1 in January.