China: Manufacturing activity increases in March, according to official PMI survey

SHENZHEN, China (Reuters) – Manufacturing activity in China grew in March for the first time in six months, an official survey showed on Sunday.

The official manufacturing PMI index stood at 50.8 last month, after 49.1 in February, returning above the threshold of 50 which separates contraction and expansion of activity. The consensus was 49.9.

Data released separately by the National Bureau of Statistics (NBS) indicate that activity in the services sector continued to increase in March.

The services PMI rose last month to 53.0, from 51.4 in February.

The composite PMI, which combines the two sectors, stood at 52.7 in March, compared to 50.9 the previous month.

(David Kirton; French version Camille Raynaud)

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