China's manufacturing PMI down in March to 49.5

31 Mar '22

1 min read

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The purchasing managers' index (PMI) for China's manufacturing sector was 49.5 in March, down from 50.2 in February, according to data from the National Bureau of Statistics (NBS), whose senior statistician Zhao Qinghe recently said the resurgence of domestic COVID-19 outbreaks and mounting geopolitical uncertainties have weighed on China's factory activities in March.

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

In March, the sub-index measuring purchase prices of major raw materials rose 6.1 percentage points from February to 66.1. The sub-index for prices at the factory gate was 56.7, up 2.6 percentage points from last month, an official news outlet reported.

The sub-index for production stood at 49.5, down 0.9 percentage points from last month, entering the contraction zone.

The latest data also showed that the PMI for China's non-manufacturing sector came in at 48.4 in March, down from 51.6 in February.

ALCHEMPro News Desk (DS)

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