China's economic activity continues to improve

2023-03-01 Editor : Li Yan ECNS App Download

China's economic activity expanded for a second straight month in February, data from the National Bureau of Statistic showed on Wednesday.

The official purchasing managers index for China's manufacturing sector, which measures factory activity, surged to 52.6 in February from 50.1 in January, NBS data showed, well above the 50-point mark that separates growth from contraction.

China's non-manufacturing PMI, which tracks activity in the services and construction sectors, came in at 56.3 in February after 54.4 in January.

Zhao Qinghe, a senior statistician with the NBS, attributed the improvement in economic activity to the accelerated resumption of work and production as well as the reopening of the business, as stimulus policy measures further take effect and the country gradually shakes off the COVID-19 impact.

Also, the country's official composite PMI, which includes both manufacturing and services activities, jumped to 56.4 in February compared with 52.9 in January, according to the NBS.


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