Published: 09:37, March 31, 2020 | Updated: 05:35, June 6, 2023
China's manufacturing PMI rebounds in March
By Xinhua

A worker builds the second production line of melt-blown nonwoven fabric, a key material for masks, at a factory of Sinopec, in Yizheng, east China's Jiangsu province, March 27, 2020. (JI CHUNPENG / XINHUA)

BEIJING - The purchasing managers' index (PMI) for China's manufacturing sector firmed up to 52 in March from 35.7 in February, the National Bureau of Statistics (NBS) said Tuesday.

A reading above 50 indicates expansion, while a reading below reflects contraction.

The rebound came as the country's arduous efforts in coordinating epidemic control and economic and social development have generally filtered through, NBS senior statistician Zhao Qinghe said

The rebound came as the country's arduous efforts in coordinating epidemic control and economic and social development have generally filtered through, NBS senior statistician Zhao Qinghe said.

With positive changes taking place in domestic epidemic control and prevention, 96.6 percent of China's large and medium-sized enterprises have resumed production, up 17.7 percentage points from one month ago, NBS survey showed.

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A sub-index for production, rallied 26.3 points from one month earlier to 54.1, hinting at reviving production activities.

However, Zhao said the single-month rise does not necessarily mean the production has been back to pre-outbreak levels, noting that more data should be observed.

The upturn of economy, Zhao said, only comes when the PMI moves up for at least three consecutive months.

Tuesday's data also indicated a remarkable improvement in market demand, as the sub-reading for new orders stood at 52 in March, higher from 29.3 in February.

Meanwhile, the PMI for high-tech manufacturing, equipment manufacturing and consumer goods all stood in expansion zone, signaling quickened restoration in the sectors, according to Zhao.

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China's March composite PMI rose significantly to 53, up 24.1 points from February. 

Non-manufacturing PMI picks up

Meanwhile, the PMI for China's non-manufacturing sector came in at 52.3 in March, up from 29.6 in February, the NBS said.

The rebound resulted from the restoration of production and life order, with the positive trend of containing the novel coronavirus outbreak, said Zhao.

Twenty of the surveyed 21 industries of the non-manufacturing sector edged up, except for the securities industry

In breakdown, 20 of the surveyed 21 industries of the non-manufacturing sector edged up, except for the securities industry.

The sub-index for business activities in the service sector stood at 51.8, surging 21.7 points from the previous month. Rapid expansion was seen in industries such as transportation, retail sales and banking.

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However, the reading of consumer-oriented service industries was 50.2, 1.6 points lower than the overall index, as the epidemic put a damper on industries like tourism, catering and entertainment.

The sub-index for service-sector business expectations rose to 56.8, up 17.1 points month on month. The sub-indices of postal services, retail sales and telecommunications were above the overall level.

The construction sector rallied with the sub-index climbing 28.5 points to 55.1 in March. The reading of construction business expectations rose to 59.9, revealing enterprises' buoyed confidence about future market development.