Chinese manufacturing in February expanded at the fastest pace in five months, as export orders surged after a production lull caused by Lunar New Year celebrations.
China’s official purchasing managers' index, published by the China Federation of Logistics and Purchasing, rose to 51.0, up from than 50.5 in January and the strongest reading since June. A PMI below 50 indicates contraction while above means expansion.
The new export orders subindex increased to 51.1 last month, its best performance since May last year and a major recovery from the 46.9 reported in January.
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