China’s PMI rises to 50.9 in March
According to the latest data released, the manufacturing data expanded to its highest level in 11 months during the month of March indicating that the Chinese economy is showing signs of recovery.
The National Bureau of Statistics and China Federation of Logistics and Purchasing said that the country's Purchasing Managers' Index, which is an important index for manufacturing activity in the country, increased to 50.9. The index was recorded at the level of 50.1 during the month of February. A rating of more than 50 shows expansion while a rating of below 50 shows contraction.
An official survey showed that data for output and export orders advanced while that for input prices fell in the world's second largest economy. This will allow the new leadership to boost growth without resulting in high inflation in the country. The PMI by government agencies is lower than the 51.2 median estimate by 26 analysts surveyed by Bloomberg News..
On the other hand, another index from HSBC Holdings and Markit Economics increased to 51.6 in March from 50.4. The strong growth in the domestic economy is likely to boost growth in the economy as global economy records a fragile recovery.