China's PMI higher than 55% in March

14:01, April 02, 2010      

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The Purchasing Managers' Index (PMI) – an important economic indicator – of China's manufacturing sector rose to over 55 percent in March, up over 3 percentage points from the previous month, according to a report released on April 1 by the China Federation of Logistics and Purchasing (CFLP) and the National Bureau of Statistics (NBS).

The report stressed that the PMI has remained above 50 percent for 13 consecutive months. A PMI of 50 percent or more represents expansion in manufacturing, while less than 50 percent is a signal that the sector is contracting. This means that China's manufacturing industry has continued to maintain an steady, accelerated growth rate, and economic recovery is underway.

A survey showed that five sub-indices of the PMI all became higher in March. The production index rose more than 4 percent to more than 58 percent, indicating an accelerated production pace for the manufacturing industry and a steady increase in enterprises' output. The new order index rose over 4 percentage points to 58 percent, indicating a considerable increase in the number of new orders received by the manufacturing industry and an increasingly higher market demand.

The raw material index rose more than 2 percent to more than 50 percent in March, and the employment index rose 3 percent to about 53 percent, the highest over the past six months. The purchasing price of raw materials index rose 4 percent points to over 65 percent.

By People's Daily Online

(Editor:黄蓓蓓)

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