The purchasing managers' index (PMI) for China's manufacturing sector rose 1.3 basis points to 51.9 in March, after contracting for three months or staying above the threshold of 50 for 13 consecutive months. Figures released by the country's National Bureau of Statistics on March 31st showed that the economy was growing.
Production recovery at Chinese companies accelerated after the Lunar New Year holiday in mid-February, with 17 out of 21 industrial sectors monitored by the National Bureau of Statistics all Posting PMI readings above 50 in March, confirming the growth. Also emphasized that point in an analysis released Wednesday.