none

Chinese manufacturing picks up in March

10-04-2012
by 
in 
Chinese manufacturing picks up in March

China's manufacturing activity rose more than expected in March, helped by an increase in new orders, according to the latest data.

However analysts warn the world's second largest economy is still slowing.

The official purchasing managers index (PMI) rose to 53.1 from 51 in February, the China Federation of Logistics and Purchasing said in a recent statement.

The rise marks the fourth consecutive month of expansion for manufacturing activity. A reading above 50 indicates industry is expanding, while a reading below 50 suggests it is contracting.

The March figure beat analysts' median forecast of 50.5, according to Dow Jones Newswires.

Analysts said the rise in March was likely supported by seasonal factors, as manufacturing tends to pick up in spring and following the Chinese Lunar New Year holiday, which fell in January.

But China's economy is widely expected to slow this year as woes in key export markets such as Europe and the US hit its overseas sales.

In an official statement from China’s Development Research Centre, government researcher Zhang Liqun, said the March reading showed a rebound but he warned overall economic growth was still slowing.

Related news & editorials

  1. 20.07.2018
    20.07.2018
    by      In
    The Innovative Manufacturing CRC has signed a framework agreement with the Fraunhofer Society with the aim of increasing the awareness and uptake of Industry 4.0 in Australian manufacturing industry.
    The German Fraunhofer Society is one of Europe’s leading organisations for applied research, and... Read More
  2. 19.07.2018
    19.07.2018
    by      In
    The Australian Made Campaign has named Ben Lazzaro as its new Chief Executive, succeeding Ian Harrison, who steps down at the end of July. The announcement was made following the organisation’s board meeting this week in Melbourne.
    Lazzaro, who has an engineering and communications background, has... Read More
  3. 19.07.2018
    19.07.2018
    by      In
    Siemens Australia and Motorola Solutions have formalised their relationship to develop innovative technologies for Australia’s industrial sector via an exclusive partnership. Motorola Solutions has joined the Siemens’ Solution Partner Programme, becoming only the second company in Australia... Read More
  4. 18.07.2018
    18.07.2018
    by      In
    Australia’s only dedicated trade event for the electronics industry will this year be held in Sydney in September. Electronex – The Electronics Design and Assembly Expo will be staged on 5th and 6th September at Rosehill Gardens Event Centre with free parking for visitors.
    The expo is now in its... Read More