China Manufacturing and Services PMI Soars in February Indicates Economic Recovery after Zero-Covid Cancellation
China’s National Bureau of Statistics (NBS) reported that the February manufacturing purchasing managers’ index (PMI) surged to 52.6, the fastest pace of growth since April 2012, from 50.1 in January. This indicates that the country’s economy is rebounding following the Chinese government’s announcement of the abolition of the zero COVID policy, which has boosted consumer …