Manufacturing activity improved in China in March, separate surveys showed Friday, helping ease concerns over the health of the world’s second-largest economy.
China’s official manufacturing Purchasing Managers’ Index (PMI) came in at 50.2 for March, above a forecast of 49.3 from a Reuters poll, returning to growth for the first time since July. That compares with 49.0 in February, which was the lowest reading since 2011.
China’s official services PMI rose to 53.8 in March from 52.7 in February.
Levels below 50 signal contraction, while levels above indicate growth.