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China manufacturing PMIs hold up better than expected in February

Staff Writer | March 1, 2017
China's factories whirred back to life in February, boosted by strong demand for overseas, although some economists said the outlook was weaker.
China factories
Economy in China   Index for February rose was 51.7
Caixin's manufacturing sector purchasing managers' index for February rose from 51.0 in January to 51.7 for February.

The improvement was mimicked bythe 'official' manufacturing PMI, which improved from 51.3 to 51.6 (consensus: 51.2).

That was marginally below the four-year high of 51.9 reached in December but nevertheless better than the 50.8 consensus forecast.

"February's PMI readings suggest that the recent pick-up in global demand is keeping China's recovery mostly intact for now," said Julian Evans-Pritchard, China economist at Capital Economics.

Furthermore, indices for new export orders in both factory PMis hit multi-year highs in February, Evans-Pritchard pointed out.