China's PMI rises to 51% in Feb

The dragon is waking up.

BEIJING -- China's Purchasing Managers Index (PMI), a preliminary readout of the country'smanufacturing activity, rose to 51 percent in February of 2012, the highest level since October, the China Federation of Logistics and Purchasing (CFLP) said Thursday. 

The pick-up followed a 50.5-percent reading in January, 50.3 percent in December and 49percent in November, according to the CFLP statistics. A PMI reading of 50 percentdemarcates expansion from contraction.