Chinese industrial activity grows in March after 5 months of decline

Brazilian economy

The last time China’s monthly PMI was in positive territory was in September

Industrial activity in China grew for the first time in March after five months of decline, according to official data published this Sunday (31). The information is from the Isto É website.

The purchasing management index (PMI), a key indicator of industrial production, stood at 50.8 points in March, a significant increase compared to 49.1 in February, reported the National Statistics Office.

In this indicator, a value above 50 represents an expansion in industrial activity, while below this limit means a contraction in activity.

The last time China’s monthly PMI was in positive territory was in September.

The March data exceeds the expectations of experts consulted by Bloomberg, who anticipated a modest 50.1.

This index is a sign of hope for Beijing, which has not been able to revive the growth of the world’s second largest economy after the suspension of restrictive measures to contain the spread of Covid-19 at the end of 2022.

The long-awaited recovery was affected by many obstacles, such as a crisis in the real estate sector, high youth unemployment or low domestic and external demand.

China ended 2023 with GDP growth of 5.2%. Some economists consider this percentage to be exaggerated, which, in any case, is one of the worst in decades, with the exception of the pandemic years.

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