Beijing, April 1 (IANS) China’s purchasing managers’ index (PMI) for the manufacturing sector rose to 50.9 percent in March from 50.1 percent in February, according to data released Monday.
The China Federation of Logistics and Purchasing (CFLP) said in a statement on its website that the rise was the result of increasing trade activity, increasing orders and slowing price increases for upstream products, reported Xinhua.
Enterprises are demonstrating positive signs in their performance and the economy is stabilizing with upward momentum, the statement said.
The rise indicates that the economy may further stabilize in the future, said Zhang Liqun, an analyst from the Development Research Center of the State Council.
The PMI stayed above 50 for the sixth consecutive month in March, the CFLP said.
A PMI reading of 50 or greater indicates expansion, while a reading below 50 indicates contraction.