Manufacturing in China expanded in March after contracting for five consecutive months. That's according to an official survey of factory managers released Sunday that suggests a rebound in industrial activities after many factories stopped running during the Lunar New Year holiday. The official purchasing managers index, or PMI, rose from 49.
A worker assembles an SUV at a car plant of Li Auto, a major Chinese EV maker, in Changzhou in eastern China’s Jiangsu province on Wednesday, March 27, 2024. Manufacturing in China expanded in March after contracting for five consecutive months, according to an official survey of factory managers released Sunday, suggesting a rebound in industrial activities following the Lunar New Year holiday.
The monthly manufacturing PMI has mostly been under 50 over the past 12 months: Other than this month, factory activities only recorded an expansion in September. Zhao said the survey also showed some problems for companies remained, including increasing competition in industries and a lack of market demand.Philippine president warns of countermeasures in response to Chinese aggression at seaand trade in their cars for electric vehicles to help spur more domestic demand. And it said 10.4 billion yuan would go to upgrading industries and modernizing manufacturing.
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