Manufacturing activity expands unexpectedly
China’s manufacturing activity rebounded to the highest level since last August in March, thanks to the government’s continued structural reforms, official data showed.
The purchasing managers’ index (PMI) came in at 50.2 in March, up from February’s 49, the National Bureau of Statistics (NBS) and the China Federation of Logisticsand Purchasing said on April 1.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
NBS statistician Zhao Qinghe attributed the rebound to the government’s pro-growth measures, as well as the rising demand of manufacturing imports and exports.