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The official index of China's Manufacturing Purchasing Managers (PMI) reached 50.5 in March, up 1.3 percent from the previous month, according to official data released Sunday.
A PMI greater than 50 indicates an economic expansion, while a number less than the mark indicates a contraction.
The manufacturing PMI in March rebounded above 50 after staying below the back-and-forth line for three months, said Zhao Qinghe, senior statistician of the National Bureau of Statistics of China (NBS).
The upturn in the manufacturing industry accelerated with the resumption of production after Spring Festival, with the production and new orders sub-indices both at their highest level in six months, up 3, 2 points at 52.7 and 1.0 points at 51.6, respectively. in March, according to the NBS.
The index of purchasing managers for the high-tech manufacturing, equipment manufacturing and consumer goods manufacturing sectors is 52.0, 51.0%. , 2 and 51.4 respectively, a level higher than that of the manufacturing industry in March, reflecting the rapid growth of new growth drivers.
Businesses were more willing to buy because the purchasing volume sub-index in March went from 48.3 in February to 51.2, the data showed.
With the global economy continuing to recover with a slowing pace, the sub-index of imports and new export orders recorded a monthly increase of 48.7 and 47.1, still below the threshold. .
The manufacturing PMI of large enterprises reached 51.1, down 0.4 points from the previous month, while that of small and medium enterprises was 49.3 and 49.9, respectively, added Zhao.
At the same time, China's non-manufacturing PMI posted 54.8 this month, compared to 54.3 in February.
The composite PMI, which covers both the manufacturing and services sectors, rose 1.6 points to 54 in March, reflecting a faster expansion of corporate activities.
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