China’s industrial engine is revving up, pushing the purchasing managers’ index to a high for February

Data: FactSet, China’s National Bureau of Statistics; Diagram: Simran Parwani/Axios

China’s manufacturing sector has accelerated sharply since the government’s tough “zero-COVID” lockdowns ended in December.

Why it matters: Despite growing tensions with the West – particularly over its unwavering support for Russia – China remains a cornerstone of the global economy.

Driving the news: China’s official survey of industrial purchasing managers showed stronger-than-expected expansion last month.

• The index rose to 52.6 in February from 50.1 in January.
• Figures above 50 indicate expansion of activity at Chinese factories; below 50 indicates a contraction.

Be smart: The strength of China’s economy is having a particular impact on commodity markets, where the country is by far the world’s largest consumer.