CCTV News (News Network): The China Federation of Logistics and Procurement and the National Bureau of Statistics Service Industry Survey Center released the China Purchasing Managers Index for February on March 1. As enterprises resume work and production and production and operation activities accelerated after the Spring Festival, the manufacturing purchasing manager index rebounded significantly and returned to the expansion range.
China's manufacturing purchasing managers' index in February was 50.2%, up 1.1 percentage points from the previous month. From the perspective of key industries, the purchasing managers' index of equipment manufacturing and high-tech manufacturing both increased to varying degrees compared with last month, and they are both in the expansion range.
Of the 13 sub-indexes, 11 indexes rose month-on-month, and many indexes hit new highs in recent years. Among them, market demand generally rebounded, with the new order index in February reaching 51.1%, up 1.9 percentage points from the previous month. Driven by the "two new" policies, the market demand for high-tech products and consumer goods has been released more actively. At the same time, the new order index of the basic raw materials industry rebounded to a high level of nearly 51%, the highest since April 2023.
Driven by the rebound in market demand, enterprises' production and procurement activities have accelerated significantly, and employment demand has also increased. The employee index rose to a new high since May 2023 in February, and the manufacturing industry's ability to absorb employment has been enhanced.
From the perspective of enterprise types, large enterprises have made rapid progress in resuming work and production, and the economic level has rebounded significantly, and the supporting role of the macro economy has steadily strengthened.
