China's Manufacturing Rebounds in February
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China's manufacturing activity rebounded in February, indicating a gradual recovery in the country's economy.
The Purchasing Managers' Index (PMI) of China's manufacturing sector rose to 49 percent from 45.3 percent in January and a record low of 38.8 percent in November, the China Federation of Logistics and Purchasing (CFLP) said on Wednesday.
A reading above 50 percent suggests expansion, while one below 50 percent indicates contraction.
The PMI includes a package of indices that measure economic performance. China's PMI was based on surveys directed at purchasing and supply managers of more than 700 local manufacturers.
February indices measuring new orders, output, purchasing and new orders for export all increased, the CFLP said.
The output index rose to 51.2 percent last month, up 5.7 percentage points from January. The new order index jumped 5.4 percentage points to 50.4 percent.
The index measuring new orders for export jumped 9.7 percentage points from January to 43.4 percent, the largest increase since September last year.
(Xinhua News Agency March 4, 2009)