China’s factory activity growth hits 3-month high in February, as millions return to work after holidays

China’s factory activity expanded at its fastest pace in three months to 50.8 in February, beating expectations and accelerating from January, as migrant workers returned to work after the Lunar New Year. The Caixin/S&P Global manufacturing PMI has remained above 50 since October, while the official PMI also rose to 50.2 in February. Despite concerns over U.S. tariffs impacting manufacturing, new export orders grew in anticipation of higher levies, with demand from foreign clients strengthening.

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