China’s Caixin Manufacturing Purchasing Managers’ Index (PMI) jumped to 50.8 in February from January’s 50.1, the latest data showed on Monday.
The markets expected a 50.3 readout in the reported month.
Key highlights (via Caixin)
Fastest rises in output and new orders for three months.
Noticeably milder drop in employment signalled.
Confidence in output strengthens again.
“Both supply and demand grew, with the gauges for output and total new orders remaining in expansionary territory for the 16th and fifth consecutive months, respectively, both reaching their highest levels in three months,” said Wang Zhe, an economist at Caixin Insight Group.
AUD/USD reaction to China’s PMI data
The upbeat Chinese Manufacturing PMI keeps the the Aussie Dollar
