Mar. 2, 2012 (China Knowledge) - China's official purchasing managers' index, a major indicator of the strength of the manufacturing sector, increased to 51.0 in February, an increase of 0.5 point from 50.5 in January, according to figures jointly released by the China Federation of Logistics and Purchasing and the National Bureau of Statistics
The production index increased 0.2 point from the previous month to 53.8 in February. The new export order index increased 4.2 points from January to 51.1 last month.
The raw material inventory index decreased 0.9 points to 48.8 in February.
The raw material purchasing price index grew 0.4 point from the previous month to 54.0.
Meanwhile, HSBC's China PMI increased from 48.8 in January to 49.6 in February.
The PMI consists of five sub indices that measure economic performance: production index, new order index, raw material inventory index, employment index and supplier delivery index, a reading of above 50 suggests expansion, while one below 50 indicates contraction.