China’s official manufacturing index rebounded to record an unexpected expansion in March, government data showed on Tuesday, after falling sharply in February as the coronavirus epidemic brought work to a halt across most of the country.
The official manufacturing purchasing managers’ index rose to 52.0 during the month, according to the National Bureau of Statistics, from February’s record low figure of 35.7. The 50-point level separates contraction from expansion. The March reading came in well above economists’ forecasts of 45 compiled by Reuters.
The National Bureau of Statistics said the reading “reflects that more than half of the surveyed enterprises have resumed work and resumed production, better than last month, but it does not mean that China's economic operation has returned to normal”.