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China Factory Activity Surges to Decade High, Boosting Recovery
China’s manufacturing activity recorded its highest monthly improvement in more than a decade in February as factories reopened after the Lunar New Year holiday, giving more support to an economic recovery that has so far relied heavily on retail and services. The manufacturing purchasing managers’ index rose to 52.6 last month from 50.1 in January, the National Bureau of Statistics said Wednesday, beating the median estimate of 50.6 in a Bloomberg survey of economists. It was the highest reading since April 2012. The non-manufacturing gauge — which measures activity in both the services and construction ... (full story)