China`s Manufacturing Data, PMI Rose in February

Sunday, October 11, 2009

The main gauge of China's manufacturing sector, its PMI, rose in February, suggesting the biggest asian economy is already recovering.

Chinese PMI index rose for the 3thh month in a row in February as factories restocked in anticipation of an early revival in the economy following the chinese stimulus package.

The figures were contrast to data released earlier this week in the United States, which have showed the economy is still contracting.

This is very important for crude oil futures. China was the main driver behind the last bull market in oil and can fuel the recovery in oil futures once again.

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