Manufacturing suffers from weak demand
China’s economy slowed in the first quarter as the manufacturing sector showed weak demand, latest figures revealed.
The Purchasing Managers’ Index in March was its lowest in nine years, and analysts said policymakers need to stabilize growth because many economic figures released so far this year — including industrial production, fixed-asset investment and housing sales for the first two months — were all weaker than forecast.
The manufacturing PMI in March climbed to 50.3 from 50.2 in February, marking the first increase since November, according to data released by the National Bureau of Statistics and the China Federation of Logistics and Purchasing. It was the lowest March figure in nine years.
A reading above 50 indicates expansion. (Photo 5)