KURE - China Manufacturing rebounds to expansionary territory in February ending six months of contraction

• The Caixin China General Manufacturing PMI increased to 51.6 in February 2023 from 49.2 in January, above market consensus of 50.2.
• This was the first increase in factory activity since last July, and the highest reading in 8 months, after a shift in COVID policy.
• Output grew for the first time in 6 months, with the rate of expansion the steepest since June 2022.
• New orders expanded for the first time in 7 months, and at the fastest pace since May 2021, and new export orders rose for the first time in 7 months.
• Employment climbed for the first time in 11 months, while backlogs of work increased at the quickest rate in 16 months.
• On inflation, both input and output cost inflation accelerated.
• Finally, sentiment improved to a 23-month high, amid expectations of a sustained recovery in customer demand.
• The Caixin manufacturing PMI pointed in the same direction with a competing official gauge. The official manufacturing PMI rose to 52.6 in February from 50.1 in January, according to official data released Wednesday .
• ETFs: ( FXI ), ( KWEB ), ( CQQQ ), ( MCHI ), ( ASHR ), ( YINN ), ( TDF ), ( CHIQ ), ( GXC ), ( EWH ), ( KBA ), ( YANG ), ( CXSE ), ( CAF ), ( CWEB ), ( PGJ ), ( KURE ), ( CHIX ), ( CYB ).

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