{"id":42637,"date":"2023-03-01T05:50:00","date_gmt":"2023-03-01T05:50:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=42637"},"modified":"2023-03-02T20:13:38","modified_gmt":"2023-03-02T20:13:38","slug":"morning-brief-china-manufacturing-smashes-forecasts","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/morning-brief-china-manufacturing-smashes-forecasts\/","title":{"rendered":"Morning Brief – China Manufacturing Smashes Forecasts"},"content":{"rendered":"\t\t
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Market sentiment during the Asian session received a large boost after China\u2019s National Bureau of Statistics PMIs showed a massive jump for manufacturing and non-manufacturing today.<\/p>

Looking at Asian stocks and Hong Kong stocks have surged, the Hang Seng<\/a> is up around 3% on the day, while on mainland China the Shanghai Composite is up around 0.8%.<\/p>

Breaking down the data, the official NBS Manufacturing PMI increased to 52.6 in February of 2023 from 50.1 in the previous month, exceeding market estimates of 50.5.<\/p>

This was the second straight month of expansion in factory activity and the fastest pace since March 2012, buoyed by Beijing’s recent decision to exit from a zero-COVID policy.<\/p>

Both new orders (54.1 vs 50.9 in January) and buying levels (53.5 vs 50.4) grew for the second straight month, and at steeper paces.<\/p>

Also, output, export sales, and employment all returned to growth. At the same time, delivery time improved for the first time in 7 months (52.0 vs 47.6). On the price front, input cost rose for the sixth month in a row and at the fastest pace since last May, while output charges rose for the first time in 10 months. Business sentiment also strengthened to a 12-month high.<\/p>

The official NBS Non-Manufacturing PMI for China also increased to 56.3 in February 2023 from 54.4 a month earlier, pointing to the highest reading since March 2021, boosted by the removal of a zero-COVID policy.<\/p>

The latest result also marked the second straight month of expansion in the service sector, as new orders expanded for the second successive month and at a faster rate (55.8 vs 52.5 in January), while both foreign sales (51.9 vs 45.9) and employment (50.2 vs 46.7) rose after months of contraction.<\/p>

Meanwhile, delivery time notably improved, as mobility and logistics returned to normal across the mainland as COVID-19 restriction were obviously completely lifted.<\/p>

On inflation, input cost slowed slightly while output prices went up for the first time in eleven months. Lastly, sentiment remained upbeat, with the reading staying at a high level.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Market sentiment during the Asian session received a large boost after China\u2019s National Bureau of Statistics PMIs showed a massive jump for manufacturing and non-manufacturing today. Looking at Asian stocks and Hong Kong stocks have surged, the Hang Seng is up around 3% on the day, while on mainland China the Shanghai Composite is up […]<\/p>\n","protected":false},"author":4,"featured_media":42647,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[763,217,164],"yoast_head":"\nMorning Brief - China Manufacturing Smashes Forecasts - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/morning-brief-china-manufacturing-smashes-forecasts\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morning Brief - China Manufacturing Smashes Forecasts Morning Brief - China Manufacturing Smashes Forecasts\" \/>\n<meta property=\"og:description\" content=\"Market sentiment during the Asian session received a large boost after China\u2019s National Bureau of Statistics PMIs showed a massive jump for manufacturing and non-manufacturing today.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/morning-brief-china-manufacturing-smashes-forecasts\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-01T05:50:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-02T20:13:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/03\/GettyImages-1220068378.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"683\" \/>\n\t<meta property=\"og:image:height\" content=\"410\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Morning Brief - 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