» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 47 | NO. 9 | Friday, February 24, 2023

China's manufacturing accelerates as economy revives

Print | Front Page | Email this story

BEIJING (AP) — China's factory activity accelerated in February as the economy revived following the end of anti-virus controls that kept millions of people at home and disrupted travel and trade, two surveys showed Wednesday.

Purchasing managers' indexes issued by a business magazine, Caixin, and the official China Federation of Logistics & Purchasing rebounded to levels that show activity growing. Measures of production, exports and new orders all rose.

Business activity is recovering after the ruling Communist Party ended stringent anti-virus restrictions in early December. That followed a slump in activity that dragged last year's economic growth to 3%, its second-lowest level since at least the 1970s.

"Operations and customer demand revived," Caixin said in a statement.

The Caixin PMI rose to 51.6 from January's 49.2 on a 100-point scale. Numbers above 50 show activity growing. Caixin said it was the first improvement in seven months and the second-highest reading in 21 months.

The Federation's PMI, issued with the national statistics agency, rose to 52.6 from the previous month's breakeven level of 50.1.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0