The Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing released data on March 31. In March, China's manufacturing purchasing managers' index (PMI) was 50.8%, an increase of 1.7 percentage points from the previous month and higher than the critical point. The manufacturing industry is recovering.
Zhao Qinghe, a senior statistician at the Service Industry Survey Center of the National Bureau of Statistics, said that in March, as companies accelerated their resumption of work and production after the Spring Festival, market activity increased, and the manufacturing PMI rose to 50.8%, returning to the expansion range. Among the 21 industries surveyed, 15 were in the expansion zone, an increase of 10 from the previous month, and the manufacturing boom has significantly expanded.
Both production and demand indexes rebounded. In March, the production index and new order index were 52.2% and 53.0% respectively, an increase of 2.4 and 4.0 percentage points from the previous month. The level of manufacturing production and demand has rebounded significantly.
The import and export index returned to the expansion range. After the Spring Festival, the import and export prosperity of the manufacturing industry rebounded. The new export order index and import index in March were 51.3% and 50.4% respectively, an increase of 5.0 and 4.0 percentage points from the previous month, and both rose to the expansion range.
The small business PMI rose to expansion territory. In March, the PMI of large, medium and small enterprises was 51.1%, 50.6% and 50.3% respectively, up 0.7, 1.5 and 3.9 percentage points from the previous month. The production and operation conditions of enterprises of different sizes have improved.
The three major key industries expanded simultaneously. In March, the PMI of high-tech manufacturing, consumer goods industry, and equipment manufacturing industry were 53.9%, 51.8%, and 51.6% respectively, up 3.1, 1.8, and 2.1 percentage points from the previous month. They were all higher than the overall level of manufacturing industry. Among them, high-tech manufacturing The industrial production index and new orders index are both higher than 55.0%, and the production demand of related industries is accelerating.
Market expectations continue to improve. In March, the expectation index for production and operating activities was 55.6%, an increase of 1.4 percentage points from the previous month and rising to a relatively high prosperity range, indicating that companies have increased confidence in recent market development.
