SHANGHAI (AP) — China's manufacturing gained momentum in February, helped by strength in new orders, export demand and production, though inflation pressures remain a concern, according to a survey released Thursday.
The reading was the strongest since June 2011.
The February figure was likely boosted by seasonal factors, namely the lack of a major holiday in February since the Lunar New Year was relatively early this year, in mid-January.
A government-engineered cooling of the property sector, coupled with the slump in global demand, has battered export-driven manufacturing. The index's decline in November to below the 50-level that signifies expansion had added to concerns over the potential for a sharp economic slowdown. It was the first contraction in manufacturing since early 2009.