21 March 2013 03:05 [Source: ICIS news]
SINGAPORE (ICIS)--HSBC’s flash purchasing managers’ index (PMI) for China rebounded to 51.7 in March, 1.3 points higher than that in February, the investment bank said on Thursday.
A PMI figure above 50 indicates expansion, while a number below 50 means a contraction.
The manufacturing output flash index showed at 50.8 in March, down slightly from 50.9 in February, according to the data.
“[The March rebound] can mean that China’s economy remains under modest recovery and there is still space for the government to continue its easy monetary policy,” said HSBC chief economist Qu Hongbin.
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