China's manufacturing grows at fastest rate since late 2020
Business
China's manufacturing scene picked up serious speed in February, growing at its fastest rate since late 2020.
The S&P Global PMI jumped to 52.1—way above what experts expected and a big step up from January.
Interestingly, this private survey shows a much brighter picture than the official numbers, which still say things are slowing down.
Exports rise the fastest since September 2020
The private report found that both local and export orders surged, with exports rising the fastest since September 2020.
Factories even added a few more jobs for the first time in a while.
On the flip side, companies are dealing with higher costs as inflation hits its highest point since mid-2022.
And with recent changes to US tariffs on Chinese goods, China could see even more opportunities ahead.