Chinese media is reporting that manufacturing growth has resumed in China after a 3-month slowdown.
BEIJING, April 1 (Xinhua) — China’s manufacturing growth rose in March, for the first time after three months of declines, official data showed on Tuesday.
The purchasing managers’ index (PMI) for the country’s manufacturing sector rose to 50.3 percent last month, up from 50.2 percent in February, according to a statement jointly released by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing.
The index shows China’s manufacturing sector is stable, said Zhao Qinghe, a senior analyst with the NBS.
A reading below 50 indicates contraction, while above 50 signals expansion.
Zhao attributed the rise to the resumption of production and business after the Spring Festival holiday.