China’s February PMI is out and it’s solid as a rock:
In February, the manufacturing PMI was 51.6% , up 0.3 percentage points from the previous month , and higher than the same period last year 2.6 percentage points, has remained at 51.0% for 5 consecutive months, the manufacturing industry continues to maintain steady development trend, Mainly showing four characteristics. First, the manufacturing market demand rebounded, production tends to be active. Production indices and new orders index were53.7% and 53.0% , respectively, up 0.6 and 0.2 percentage points from the previous month . Second, domestic and international demand has improved, import and export continue to stabilize the good. The new export orders index and import index were 50.8% and 51.2% , respectively.
And the chart:
