China Manufacturing Recovers After Weak January, Caixin PMI Shows

Activity in China’s vast manufacturing sector returned to expansionary territory in February, as output and new orders grew and the employment picture improved, a Caixin-sponsored survey showed Tuesday.

The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives an independent snapshot of the country’s manufacturing sector, rose to 50.4 in February from 49.1 in January. A number above 50 signals an expansion in activity, while a reading below that indicates a contraction.