China's manufacturing PMI returns to expansion territory

The purchasing managers' index (PMI) for China's manufacturing sector came in at 50.8 in March, bouncing back to the expansion zone, data from the National Bureau of Statistics (NBS) showed on Sunday.

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

The positive rebound followed five consecutive months of contraction that started in October 2023, indicating recovery in China's manufacturing activity.

NBS senior statistician Zhao Qinghe said that 15 out of the 21 surveyed sectors were in the expansion zone in March, up by 10 from the previous month, as enterprises accelerated production after the Spring Festival holiday.

Sunday's data also revealed that non-manufacturing PMI came in at 53 in March, up from 51.4 in February.