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China's manufacturing activity expands for 7th month
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CHINA'S manufacturing sector expanded for the seventh month in a row, adding evidence that the world's second largest economy is stabilizing amid uncertain global outlook.
The country's manufacturing purchasing managers' index (PMI) came in at 51.6 percent in February, 0.3 percentage points higher than that recorded in January, according to data released Wednesday by the National Bureau of Statistics (NBS).
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
NBS statistician Zhao Qinghe said February's reading remained above 51 percent for five months in a row and pointed to steady expansion of the manufacturing sector.
The sub-index for production was 53.7 percent, 0.6 percentage points higher than that recorded in January.
The sub-index for new orders was up 0.2 percentage points to 53 percent.
Zhao attributed the acceleration of production and new orders to the recovery in market demand and robust production activities.
In addition, the sub-index for equipment manufacturing sector expanded to a three-year high of 53.3 percent, 1.7 percentage points higher than the overall manufacturing industry.
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