China's manufacturing activity expands at fastest pace since 2012

The world's second-largest economy recorded one of its worst years in nearly half a century in 2022 due to strict Covid lockdowns and subsequent widespread infections

China's manufacturing activity expanded as the fastest pace in more than a decade in February, official data showed on Wednesday, smashing expectations as production zoomed after the lifting of COVID-19 restrictions late last year.
 

The official manufacturing purchasing managers' index (PMI) stood at 52.6 against 50.1 in January, according to data from the National Bureau of Statistics, above the 50-point mark that separates expansion and contraction in activity on a monthly basis. The PMI far exceeded an analyst forecast of 50.5 and was the highest reading since April 2012.
 

The world's second-largest economy recorded one of its worst years in