Manufacturing activity of China improved marginally in February despite closure during the Lunar New Year and fresh new outbreak of omicron.
According to National Bureau of Statistics, official manufacturing purchasing managers’ index rose to 50.2, beating median estimate of 49.8 in a Bloomberg survey of economists.
The non-manufacturing gauge, which measures activity in the construction and services sectors, increased to 51.6, above the consensus forecast.
Manufacturing activity at the beginning of each year is usually distorted by the week-long Lunar New Year holidays, which fell mostly in February this year.
