China’s official manufacturing purchasing managers index (PMI) had a strong month of March after the seasonal lull around the Spring Festival, with output, imports, and exports all growing, reports Caixin Global.
The PMI, a summary indicator of Chinese businesses used to gauge business activity and sentiment, grew 1.2 points to 51.5 in March, where 50 denotes no-growth and sub-50 means contraction.
The data, released by the National Bureau of Statistics, is traditionally expected to rebound in March after drops in activity associated with Chinese New Year in the first two months. However, given the persistent uncertainty of trade disputes with the US, the rebound may be dampened in coming months.
The non-manufacturing PMI, describing service and construction industries, also saw modest growth last month, moving from February’s 54.4 to 54.6.