Manufacturing sector returns to growth in March | Daily News

Manufacturing sector returns to growth in March

China’s manufacturing sector saw a surprise return to growth in March following government efforts to boost the economy.

The Caixin/Markit survey, released on Monday, rose to 50.8 in March from 49.9 in February. A reading above 50 indicates expansion. Official manufacturing figures published a day earlier also pointed to a jump in activity. Beijing has taken steps to support the economy to combat slowing growth.

The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) rose to an eight-month high of 50.8 in March, beating the 49.9 forecast in a Reuters poll of economists. The result echoed China’s official PMI data released on Sunday. It showed manufacturing activity rose to 50.5 in March, from 49.2 in February. BBC



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