Manufacturing sector returns to growth in March | Daily News

Manufacturing sector returns to growth in March

China’s manufacturing sector saw a surprise return to growth in March following government efforts to boost the economy.

The Caixin/Markit survey, released on Monday, rose to 50.8 in March from 49.9 in February. A reading above 50 indicates expansion. Official manufacturing figures published a day earlier also pointed to a jump in activity. Beijing has taken steps to support the economy to combat slowing growth.

The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) rose to an eight-month high of 50.8 in March, beating the 49.9 forecast in a Reuters poll of economists. The result echoed China’s official PMI data released on Sunday. It showed manufacturing activity rose to 50.5 in March, from 49.2 in February. BBC

 


 

Add new comment