THE orders-on-hand volume for local manufacturers in February grew two per cent over the same month last year and was one per cent higher than January's, the Census and Statistics Department says.
The figures are seen by analysts as signals of growth in domestic exports.
''They are very good figures, carrying on from the uptrend since September,'' said Bank of East Asia economic research department head Benjamin Chan Sau-san.
''They suggest that domestic exports will show positive growth in the second and third quarters.'' He noted that an order took an average of five months to deliver.
Crosby Securities economist Ray Farris said: ''It is somewhat encouraging for the manufacturing sector to see at least some growth in their orders-on-hand.'' Plastic products led, with a seven per cent year-on-year rise, and a 12 per cent improvement on January.
''The performance of the plastics industry has been remarkable. Orders have been on the rise with great amplitudes since October,'' Mr Chan said.