Statistics show that China’s economic recovery is gaining momentum! – Dainik Savera Times

In the past two days, the news of China’s three major economic indicators simultaneously improving has attracted significant attention around the world. The data represent the latest evidence of China’s accelerating economic recovery, which is expected to generate new momentum for the global economy. The term “three leading economic indicators” refers to the purchasing managers’ index (PMI) for manufacturing, the index for non-manufacturing business activity, and the composite PMI.

The comprehensive PMI provides an overview of the economic condition of the country, while the PMI accurately reflects the growth and changing trends in the manufacturing sector. The non-manufacturing business activity index mainly reflects the growth of the service industry. The PMI is widely recognized as a barometer for macroeconomic changes within a nation. It is important in monitoring, forecasting and providing early warning of economic activities.

According to China’s most recent official data, the PMI, non-manufacturing business activity index and comprehensive PMI output index for March this year were 50.8%, 53.0% and 52.7% respectively. These figures represent an increase of 1.7, 1.6 and 1.8 percentage points compared to the previous month. Notably, manufacturing activity saw growth in March for the first time in six months, reaching its highest level in a year. Foreign media outlets such as Bloomberg in the United States have stated that these developments suggest a positive outlook for China’s manufacturing industry and stabilization of the overall economy.

What factors contribute to China’s remarkable economic performance? Analysts believe this is due to a rebound in domestic demand, driven by external demand, as well as the Chinese government’s continued efforts to stabilize the economy, expand domestic demand, and maintain stable foreign trade policies. Is. China has launched a new round of large-scale equipment upgrading and trade-in operations for consumer goods, which is expected to create a market worth more than 50 trillion Chinese yuan. This has further strengthened international confidence in China’s economy.

As the world’s second-largest economy, China’s economic stability and reforms undoubtedly benefit the global community. Christopher Thomas, a senior researcher at the Brookings Institution in the United States, said that China’s rapid development of new, high-quality productive forces will contribute new vitality to global economic growth.

(Courtesy-China Media Group, Beijing)