China manufacturing rebounds unexpectedly
- 8 years ago
China's manufacturing activity unexpectedly expanded in March for the first time in nine months, official figures showed Friday.
The official Purchasing Managers' Index (PMI) hit 50.2 in March, rising above the 50-point threshold that separates growth from contraction.
The news added to hopes that downward pressure on the world's second largest economy could be easing.
Recent industrial profit data showed combined earnings rose 4.8 percent in the first two months of the year.
Analysts say the improvement could be linked to a rebound in the property market and an increase in construction activity, bolstering demand for building materials such as cement, glass and steel.
A recent recovery in global energy and commodity prices may also have boosted profits.
The official Purchasing Managers' Index (PMI) hit 50.2 in March, rising above the 50-point threshold that separates growth from contraction.
The news added to hopes that downward pressure on the world's second largest economy could be easing.
Recent industrial profit data showed combined earnings rose 4.8 percent in the first two months of the year.
Analysts say the improvement could be linked to a rebound in the property market and an increase in construction activity, bolstering demand for building materials such as cement, glass and steel.
A recent recovery in global energy and commodity prices may also have boosted profits.