Beijing - Saba:
A survey by S&P Global released today, Monday, showed an acceleration in China's manufacturing activity growth during the past month, due to increased production and orders.
According to the survey, the Caixin Manufacturing Purchasing Managers' Index rose to 50.8 points in February, compared to 50.1 points in January, while the preliminary reading of the index was 50.4 points last month.
A reading of the index above 50 points indicates growth in the sector's economic activity, while a reading below 50 points indicates a contraction in activity.
At the same time, the index remained above 50 points for the fifth consecutive month. The index reading reflects a slight improvement in the operating conditions of the Chinese manufacturing sector.
Higher production helped boost purchasing activity, and manufacturers' inventories of manufacturing supplies fell for the first time since July.
Despite the improvement in activity, manufacturing jobs continued to decline for the sixth straight month.