Manufacturing in China expanded in March after contracting for five consecutive months, according to an official survey of factory managers released Sunday, suggesting a rebound in industrial activities following the Lunar New Year holiday.
The official purchasing managers index, or PMI, rose from 49.1 in February to 50.8 in March. The PMI is on a scale up to 100, where 50 marks the cutoff between expansion and contraction.
The monthly manufacturing PMI has mostly been under 50 over the past 12 months: Other than this month, factory activities only recorded an expansion in September.
National Bureau of Statistics senior statistician Zhao Qinghe said the market became more active as companies resumed and sped up production after the Lunar New Year holiday. Many factories stopped running during the holiday, with social media posts suggesting workers at some companies were off for as many as 140 days starting in late 2023 due to the lack of new orders.
