Released: 23 February 2021
February Sales Managers Index Data Shows the Chinese Economy Continues to Grow out of the Covid Induced Recession
Business Confidence continues to improve in the Manufacturing and Service sectors and remains at levels indicating the problems of Covid are being left behind.
The Market Growth Services sector Index is now at a 42 month high, although the manufacturing sector Index remains some way behind.
The Sales Growth Index backs up the buoyancy of business confidence, with data relating to actual revenues as opposed to beliefs about the future. Both Manufacturing and Services Indexes show very positive numbers well above the 50 “no growth” line.
Unlike in the USA, where price movements are starting to look suspiciously like turning into renewed inflation, prices appear more under control in China, and indeed in the manufacturing sector are actually falling as production is ramped up.
However, the Jobs Index does not suggest that recruitment levels are back to pre Covid levels in the manufacturing sector. As in the USA, it appears that the experience of Covid has left many companies still very cautious and as yet reluctant to recruit. However in the Services sector the Jobs Index is now at an 80 month high, reflecting the recovery to positive levels of the Sales and Market Growth Indexes.
Sales Growth Index for Services
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