(menafn – ecpulse)
The Chinese manufacturing sector improved in February for the third consecutive month, showing that the world’s second- biggest economy is maintaining stability amid Europe’s debt crisis and a cooling domestic property market.
China’s statistics bureau and logistics federation issued the PMI manufacturing, where the nation's purchasing-managers index advanced to 51.0 in February, compared with 50.5 in January, yet it exceeded economists forecast of 50.9, also a reading above 50 indicates expansion
As, today’s news and Japan's news along with South Korea indicates that global growth is improving as the U.S. recovery strengthens and Europe works to contain its debt crisis.
On the other hand, the Chinese stocks gained 5.9% last month and Asia’s benchmark index entered a bull market yesterday, led by gains in China Shipping Container Lines Co.
Moreover, China’s gross domestic product expanded 8.9 percent in the fourth quarter of 2011, slowing from a 9.1 percent gain in the previous three months, as the government waged a campaign to tame gains in consumer and housing prices.
Also, the nation’s exports and imports dropped for the first time in more than two years in January, while new lending was the lowest for a January in five years. Housing prices last month failed to rise in any of 70 cities monitored by the government.