China Factory Activity Expands in March as PMI Reaches 50.4
China's official manufacturing PMI rose to 50.4 in March from 49.0 in February, signaling expansion. The reading surpassed analyst expectations of 50.1.
Manufacturing activity in China returned to expansion territory in March, signaling a recovery in the industrial sector. According to data released by the National Bureau of Statistics on Tuesday, the official manufacturing purchasing managers index (PMI) rose to 50.4. This figure represents a significant increase from the 49.0 recorded in February.
The latest reading surpassed the 50-point threshold that distinguishes growth from contraction. The performance also exceeded market expectations, as analysts polled by Reuters had anticipated a more modest reading of 50.1. The rebound in factory activity is attributed to improved demand across the manufacturing landscape, suggesting a stabilization in industrial output as the month concluded.
