China’s Purchasing Managers Index continues to be in the expansion range, the economy is stabilizing and improving
CCTV news (news broadcast): The China Federation of Logistics and Purchasing and the National Bureau of Statistics announced today (March 31) that China’s manufacturing purchasing managers index in March was 51.9%, and the index has been in the expansion range for three consecutive months. Among the 21 industries surveyed, the PMIs of 13 industries were higher than those of the previous month.
With the accelerated recovery of the domestic economic cycle, manufacturing production and market demand have steadily rebounded, driving corporate procurement activities to become more active. The purchase volume index in March was 53.5%, the highest since December 2020. Imports of raw materials for production by enterprises continued to increase.
From the perspective of key industries, equipment manufacturing, high-tech manufacturing, basic raw material industries and consumer goods industries all continued to maintain a momentum of expansion.
In addition, the non-manufacturing business activity index in March was 58.2%, an increase of 1.9 percentage points from the previous month, which was the highest point in recent years, and the pace of non-manufacturing recovery and development is also accelerating.