China’s Manufacturing Expansion Accelerates on Stronger Foreign Demand, Caixin PMI Shows
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The expansion of China’s manufacturing sector picked up pace in February, with new export orders growing at the quickest rate in 10 months, a Caixin-sponsored survey showed Monday.
The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives an independent snapshot of the country’s manufacturing sector, came in at 50.8, up from 50.1 in January. A reading above 50 indicates an expansion in activity, while a number below that signals a contraction.
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- China's manufacturing sector expanded in February, with the Caixin PMI rising to 50.8 from 50.1, signaling growth.
- New export orders ended contraction, growing at the fastest pace since April, despite ongoing labor market shrinkage.
- Manufacturers faced increased input costs but output prices declined; business optimism improved, with future expectations at a three-month high.
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Who’s Who
- Caixin Insight Group
- Caixin Insight Group is a research firm that provides economic analysis and insight, particularly focused on China's economy. It conducts surveys like the Caixin China General Manufacturing Purchasing Managers’ Index (PMI), offering independent snapshots of economic activities, such as manufacturing. The group provides valuable data to assess market trends, production, demand, and other economic indicators, often shedding light on broader economic conditions and challenges within China.
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What Happened When
- July 2024：
- Inventories of raw materials declined for the first time
- September 2024：
- Labor market contracted for the sixth straight month in February 2025
- October 2024：
- Backlogs of work grew for the fifth straight month in February 2025
- April 2024：
- Before February 2025, the highest rate of growth in new export orders was recorded
- January 2025：
- Caixin China General Manufacturing Purchasing Managers' Index (PMI) was 50.1
- February 2025：
- Expansion of China's manufacturing sector picked up pace, with PMI rising to 50.8 and new export orders growing at the quickest rate in 10 months
- February 2025：
- Transportation and logistics operations were effectively aligned with production demand
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