- Manufacturing production in China stabilised in February, according to PMI survey data produced for Caixin by IHS Markit, in a welcome sign of the economic impact of the Omicron wave ebbing.
- The renewed growth of new orders reported in February helped stabilise manufacturers' backlogs of orders - the amount of work in hand available to sustain production in coming months - which had fallen sharply in January.
- From a broader perspective, the steadying of production in China during February, and the avoidance of a drop in production due to the Omicron wave, will be welcome news for policymakers in other countries, boding well for global supply chains emanating out of mainland China.
For further details see:
China Manufacturing Stabilises In February, But Employment Falls Sharply Again