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Investing.com-- Chinese manufacturing activity grew more than expected to a three-month high in February on the back of increased production and new orders, private purchasing managers index (PMI) data showed on Monday.
The Caixin manufacturing PMI grew 50.8 in February, above expectations of 50.4 and the prior month’s reading of 50.1.
A reading above 50 signals expansion, and February’s increase—its largest since November—marks the fifth consecutive month of growth.
The Caixin data comes days after the government PMI, which showed the manufacturing sector grew more than expected in February.
Demand strengthened from foreign clients, with new export business rising modestly for the first time since last November, the survey stated.
"Overall, the market showed clear signs of recovery, with manufacturers launching new products," Wang Zhe, senior economist at Caixin Insight said in a statement.
"The holiday period saw robust consumption momentum, and technological innovations in certain industries added to the positive sentiment, helping sustain the manufacturing market recovery," he added.
Beijing had doled out a slew of major stimulus measures in 2024, but the world’s second-largest economy still faces significant challenges to boost its sluggish growth, especially in the light of U.S. trade policies under President Donald Trump.
Trump has vowed an extra 10% trade tariff on Chinese exports, on top of the 10% levy he imposed on Feb. 4.
Investors are closely awaiting China’s upcoming "Two Sessions" meetings this week, hoping for fresh stimulus measures to support the country’s slowing economy.
The annual gatherings of the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC) are expected to outline key economic policies, with a focus on fiscal and monetary support.