China has reversed the continuous contraction of manufacturing activities for five consecutive months. The National Bureau of Statistics announced that in March, the Purchasing Managers Index (PMI) for manufacturing was 50.8, an increase of 1.7 percentage points from February, higher than the critical point, and the manufacturing boom has picked up. The manufacturing Purchasing Managers Index has returned to the expansion zone, and the momentum of economic recovery and improvement has further strengthened.
From the perspective of enterprise scale, the PMIs of large, medium, and small enterprises were 51.1, 50.6, and 50.3, respectively, an increase of 0.7, 1.5, and 3.9 percentage points from February, all higher than the critical point.
From the perspective of classified indices, among the five classified indices constituting the manufacturing PMI, the production index, new order index, and supplier delivery time index are higher than the critical point, while the raw material inventory index and employment index are lower than the critical point.
The production index was 52.2, an increase of 2.4 percentage points from the previous month, indicating that the production activities of manufacturing enterprises have accelerated. The new order index was 53, an increase of 4 percentage points from the previous month, indicating that the market demand of the manufacturing industry has picked up.
The raw material inventory index was 48.1, an increase of 0.7 percentage points from the previous month, indicating that the decline in the inventory of main raw materials in the manufacturing industry has narrowed. The employment index was 48.1, an increase of 0.6 percentage points from the previous month, indicating an improvement in the employment climate of manufacturing enterprises.
The supplier delivery time index was 50.6, an increase of 1.8 percentage points from the previous month, indicating that the delivery time of manufacturing raw material suppliers has accelerated.
