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Free AccessMNI BRIEF:Caixin China Feb Manufacturing PMI Back To Expansion
Caixin China's manufacturing PMI for February rebounded 1.3 points on month to 50.4, moving above the breakeven 50 level, indicating improvement but still lower than the long-term average, financial publisher Caixin said on Tuesday.
Both the production and new order sub-indices returned to the expansion with moderate growth. There was improvement in demand as the new order sub-index recorded an eight-month high, and many surveyed companies reported stronger customer demand, driving a return to output growth, Caixin said.
The new export order sub-index remained below 50 for seven consecutive months as the overseas pandemic situation worsened and blocked transportation, but the decline narrowed from the previous month, Caixin said.
Caixin's PMI tracks small and medium-sized manufacturers, while the official PMI covering large state-owned companies and released on the same day edged up 0.1 points to 50.2 in February from January.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.