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MNI BRIEF: Caixin Feb Manufacturing PMI Edges Up To 50.9

MNI (Singapore)
MNI (Beijing)

China's Caixin manufacturing PMI registered 50.9 in February, up 0.1 points from January, staying in the expansionary zone above the breakeven 50 mark for the fourth month, driven by pro-growth policies, the financial publisher said Friday.

Both the production and new orders sub-indices rose within the expansionary zone. The new export orders sub-index standing above 50 hit a one-year high, as surveyed manufacturers said overseas demand for Chinese goods has generally improved with the number of customers and their purchasing power rising last month.

Caixin's PMI mainly tracks small and medium-sized manufacturers. The official PMI, which was released on the same day, typically covers large state-owned companies, declined by 0.1 points to 49.1 in February. (See MNI: China Feb PMI To Remain Contractionary, More Rate Cut Seen)

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