BEIJING (Xinhua) – The purchasing managers’ index (PMI) for China’s manufacturing sector came in at 50.5 in March, up from 49.2 in February, the National Bureau of Statistics (NBS) said yesterday.
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A reading above 50 indicates expansion, while a reading below reflects contraction.
NBS senior statistician Zhao Qinghe attributed the monthly increase in the manufacturing PMI to accelerated production activities and improved domestic demand boosted by government supporting policies, including tax and fee cuts.
The sub-index for production, a major factor used in calculating PMI, rose to a six-month high at 52.7 in March, up 3.2 percentage points from February.