The China Federation of Logistics and Purchasing and the Service Industry Survey Center of the National Bureau of Statistics released that China’s Manufacturing Purchasing Managers’ Index (PMI) was 50.6% in February, down 0.7 percentage points from the previous month and above 50%, indicating that the economy has maintained a stable recovery momentum. .

The index has fallen seasonally, and the momentum of economic stability recovery has not changed. In February, due to the influence of the Spring Festival, the manufacturing PMI declined. But on the whole, although the supply and demand index has slowed down, it still remains at a relatively good level of 51.5% and above, and the momentum of economic stability recovery has not changed. New momentum continues to grow rapidly, and the high-end manufacturing industry has accelerated. The equipment manufacturing PMI was 52.2%, and both the production index and the new order index were above 53.5%. Although the PMI of the high-tech manufacturing industry dropped by more than 1 percentage point from the previous month, it remained at a relatively high level of 53.6%, and the industry grew rapidly. The supporting role of large enterprises has been strengthened. The PMI of large enterprises increased by 0.1 percentage point from the previous month to 52.2%, which was 1.6 percentage points higher than the overall manufacturing PMI. The difference reached a new high since 2020, indicating that large enterprises are still accelerating their recovery under the influence of the Spring Festival, which has a supporting effect on the economy. Enhanced.

Wen Tao, an analyst at the China Logistics Information Center, said that as the Spring Festival factor subsides, the economy is expected to return to normal operations soon, and companies are more optimistic about the outlook. The expected index of production and operation activities was 59.2%, an increase of 1.3 percentage points from the previous month. Enterprises also continued to increase their purchases of raw materials to prepare for subsequent production needs. The purchase volume index was 51.6%, which was 0.4 percentage points lower than the previous month, but remained at a good level, and the decline was significantly lower than the decline in the supply-demand index.

Article information source-China Government Network