Statistics

China's PMI of manufacturing sector up in March

(Xinhua)
Updated: 2010-04-01 11:52

BEIJING: The Purchasing Managers' Index (PMI) for China's manufacturing sector stood at 55.1 percent in March, up 3.1 percentage points from last month, the China Federation of Logistics and Purchasing (CFLP) said Thursday.

It was the 13th straight month that the index was above 50 percent.

The PMI includes a package of indices to measure manufacturing sector performance. A reading above 50 percent indicates economic expansion, while that below 50 percent indicates contraction.

The figure stood at 56.6 percent in December 2009, the highest since May 2008, according to the CFLP.

Zhang Liqun, a researcher with the State Council's Development Research Center, said the growth in the March figure indicated that the economic recovery was having a very positive impact on the manufacturing sector.

However, it was yet to be seen whether the growth would continue, as the strong rebound in exports was not sustainable, and uncertainties still remained in the rise of demand, he said.

The PMI reading was based on data from the National Bureau of Statistics, covering purchasing and supply managers in more than 700 firms across China.