The Purchasing Managers Index (PMI) of China's manufacturing industry rose by 1.3 basis points to 51.9 in March after experiencing three months of contraction or staying above the 50 threshold for 13 consecutive months. The country’s National Bureau of Statistics (NBS) released data on March 31 that China’s economy is growing.
After the Lunar New Year holiday in mid-February, the production of Chinese companies accelerated. The PMI of 17 of the 21 industrial sectors monitored by the National Bureau of Statistics was higher than 50 in March, confirming this increase. This was also emphasized in the analysis report released on Wednesday.