Factory activity in China grew for the first time in four months in March, according to data released by the National Bureau of Statistics (NBS), said Reuters.
The official Purchasing Managers’ Index (PMI) rose to 50.5 in March from February’s three-year low of 49.2, according to NBS data. Factory output grew at its fastest pace in six months in March. It rose to 52.7 from February’s 49.5, the highest level since September 2018.
“Overall, although the manufacturing PMI in March can somewhat alleviate the pessimistic expectations of the economy, we believe that the actual situation may not be so optimistic as reflected in this indicator,” said Lianxun Securities.