In March, the National Bureau of Statistics Manufacturing PMI returned to expansion, with costs rising sharply.

WealthCoffee · 2026-04-04T03:56:22+00:00

In March, the Manufacturing PMI was 50.4, and the Non-Manufacturing Index was 50.1, both returning to the expansion zone. This reflects the resumption of work and production after the Spring Festival and the recovery of market demand. Production and new order indices increased, and although new export orders grew, they still remain in contraction territory.

WealthCoffee

2026-04-04 03:56:22

Abstract generation in progress

【Caixin Global】 After the Chinese New Year, enterprises resumed work and production. Combined with a rebound in market demand, the manufacturing business sentiment improved in March.

Data released by the National Bureau of Statistics on March 31 showed that the March manufacturing Purchasing Managers’ Index (PMI) and the non-manufacturing business activity index were 50.4 and 50.1, respectively—up by 1.4 and 0.6 percentage points from February. Both returned to the expansion zone; in the same month, the composite PMI output index rose by 1.0 percentage point to 50.5, reflecting the return to expansion in production and operating activities.

As enterprises gradually resumed work and production after the Chinese New Year, manufacturing supply and demand picked up. In March, the production index and new orders index were 51.4 and 51.6, respectively, up by 1.8 and 3.0 percentage points from February. Both were above the critical point, and there was a rare development in recent years: the new orders index was higher than the production index. New export orders also rose by 4.1 percentage points to 49.1, but they still remained in the contraction zone.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

2 Likes