LIANIUNGANG, CHINA – FEBRUARY 28: Workers produce stuffed toys for export at a toy factory in Lianyungang, Jiangsu province, China February 28, 2026.
Si Wei | Visual China Group | getty images
China’s official estimate for manufacturing activity rises further That beat expectations in March, its strongest performance in a year and snapping a two-month losing streak.
The manufacturing purchasing managers’ index for March rose to 50.4, according to the National Bureau of Statistics on Tuesday, better than economists’ expectations of 50.1 in a Reuters poll. Levels below 50 indicate contraction, while levels above that range indicate expansion.
That expansion marked a notable rebound after two months of contraction, with the official figures in January and February hitting 49.3 and 49.0 respectively.
In the first two months of this year, China’s exports rose 21.8% from a year earlier, exceeding expectations, as strong demand from Southeast Asia and Europe offset a decline in US-bound shipments.
A separate privately-surveyed PMI conducted by RatingDog and S&P Global is due to be released on Wednesday and is expected to fall to 51.6 in March from a 5-year high of 52.1 in February, according to a Reuters poll.
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