China: Factory activity expanded in March, official data show

  • Factory activity in China showed a surprise increase in March, a government survey said.

    The purchasing managers’ index or PMI rose from 49.9 in February to 50.1 in March, higher than the 49.7 estimate by economists.

    According to the index, a reading greater than 50 indicates an expansion in factory activity whereas a  reading below 50 shows contraction.

    The world’s second largest economy grew by 7.4% in 2014, the slowest in nearly a quarter of a century. In 2015, the growth is expected to further slow down to 7%.

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