FILE PHOTO: A person looks towards cranes in front of the skyline of the Central Business District (CBD) in Beijing, China, October 18, 2021. REUTERS/Thomas Peter
BEIJING (Reuters) – China’s non-manufacturing activity grew at a faster pace in February, official data showed on Wednesday, suggesting that economic recovery is well underway following the abandonment of COVID curbs in December.
The official non-manufacturing purchasing managers’ index (PMI) stood at 56.3 compared with 54.4 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 official composite PMI, which includes both manufacturing and services activity stood at 56.4 after 52.9 in January.