Chinese manufacturing PMI highest for nearly five years

The purchasing managers index for manufacturing in China rose to 51.8 points last month from 51.6 points the month before, Xinhua reports.

The Chinese government-run news agency, citing the National Bureau of Statistics, says the March reading was the highest since April 2012, and higher than expected.

A reading above 50 indicates expansion.

The report quotes a statistician of the bureau, Zhao Qinghe, as saying the main sub-indexes of the manufacturing PMI all indicated recovery, suggesting the Chinese economy is gaining momentum.

China’s non-manufacturing PMI rose to 55.1 points last month, Xinhua says.