Mar 2, 2023 - Economy

China's industrial engine revs up

China's official manufacturing PMI
Data: FactSet, China's National Bureau of Statistics; Chart: Simran Parwani/Axios

China's manufacturing sector has accelerated sharply since the end of the government's harsh "zero-COVID" lockdowns in December.

Why it matters: Despite growing strains with the West — especially over its steadfast support for Russia — China remains a cornerstone of the global economy.

Driving the news: China's official survey of industrial purchasing managers showed a stronger-than-expected expansion last month.

  • The index rose to 52.6 in February from 50.1 in January.
  • Numbers above 50 indicate an expansion of activity at Chinese factories; below 50 suggests a contraction.

Be smart: The strength of China's economy is especially influential in commodities markets, where the nation is by far the world's biggest consumer.

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