China official PMI Manufacturing rose to 51.9 in March, up from 50.6, above expectation of 51.0. That’s also the highest level in 2021. 17 of the 21 industries saw expansion in the month. New order index rose 2.1 pts to 53.6. New export orders rose 2.4 pts to 51.1. PMI Non-Manufacturing jumped to 56.3, up from 51.4, above expectation of 52.6. PMI Composite rose to 55.3, up from 51.6.
“After the Lunar New Year, the recovery of production accelerated, and the manufacturing industry rebounded significantly in March,” said Zhao Qinghe, a senior statistician at the NBS. “As the results of pandemic controls being consolidated, consumer demand continues to be released, and the service industry accelerated its recovery.”
