China’s manufacturing PMI increased by 50.8% in March – Dainik Savera Times
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According to data released on March 31 by the Service Industry Survey Center of the Chinese National Bureau of Statistics and the China Logistics and Procurement Association, China’s Manufacturing Purchasing Managers’ Index (PMI) stood at 50.8% in March, an increase of 1.7 percentage points from the previous month. It is above the critical point and the manufacturing boom is increasing.
Chao Ching He, senior statistician at the Service Industry Survey Center of the Chinese National Bureau of Statistics, said that in March, as various enterprises and companies accelerated the resumption of work and production after the Spring Festival, market activity increased and manufacturing. The PMI rose to 50.8%, returning to the expansion range.
Of the 21 industries surveyed, 15 were in the expansion zone, with manufacturing booming significantly. With this there was a jump in both production and demand indices. In March, the production index and new orders index stood at 52.2% and 53.0%, respectively, an increase of 2.4 and 4.0 percentage points from the previous month. On the other hand, import and export indices returned to the expansion range.
The new export orders index and import index in March stood at 51.3% and 50.4%, respectively, an increase of 5.0 and 4.0 percentage points from the previous month. Market expectations continue to improve. In March, the expectations index for production and business activities stood at 55.6%, an increase of 1.4 percentage points from the previous month.
(Courtesy-China Media Group, Beijing)
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