Yesterday, the China Federation of Logistics and Purchasing and the National Bureau of Statistics Service Survey Center announced that the February Purchasing Managers' Index (PMI) for China's manufacturing sector was 51%, marking the third consecutive month of increase. Generally speaking, a PMI above 50% reflects expansion in the manufacturing economy; below 50% reflects contraction. Looking at the eleven sub-indices, all indices except for raw material inventory rose to varying degrees. Among them, the new export orders index saw a significant rise, particularly in stainless steel round bars in Shijiazhuang. Analysts believe that from the current external environment, the US economy is showing signs of improvement, with the US manufacturing PMI index rising significantly for three consecutive months in stainless steel coils in Harbin; although the Eurozone economy has not changed its overall sluggish trend, there are signs of some improvement. However, since this index tends to rise after the Spring Festival every year, coupled with the overall level of the index still being relatively low, close attention needs to be paid to the trend of future data. According to the full-sample survey data published on March 1 by the China Real Estate Index System covering 100 cities, in February, the average residential price in 100 cities was 8767 yuan per square meter in stainless steel wire 304, down 0.30% from January. Among these, prices in 27 cities rose month-on-month, while prices in 72 cities fell month-on-month, and one city remained unchanged. Thus, the housing prices in these hundred cities have fallen month-on-month for six consecutive months, with the decline reaching the highest level since it began falling in September 2011.