According to China's National Bureau of Statistics, the country's manufacturing Purchasing Managers' Index (PMI) came in at 50.4 in March, up 1.4 percentage points from the previous month. Remaining above the 50-point threshold, the index indicates a rebound in manufacturing activity.
By enterprise size, the PMI for large enterprises stood at 51.6, up 0.1 point from the previous month and above the threshold. The PMI readings for medium-sized and small enterprises came in at 49.0 and 49.3, respectively, up 1.5 points and 4.5 points month on month, though both remained below the threshold.
Looking at the sub-indices, the production index rose to 51.4, up 1.8 points from the previous month, pointing to faster manufacturing activity. The new orders index came in at 51.6, up 3.0 points, indicating a marked improvement in market demand. The employment index stood at 48.6, up 0.6 point from the previous month, suggesting a recovery in hiring conditions among manufacturing firms.
In addition, China's composite PMI output index stood at 50.5%, up 1.0 percentage point from the previous month. Remaining above the 50-point threshold, it indicates an overall improvement in business production and operating conditions.
Text/Graphics by Li Ruoyi
