China’s Manufacturing PMI For March at 5-Year-High – Statistics Bureau

China’s Manufacturing Purchasing Managers’ Index (PMI) for March 2017 reached a five-year-high, while the general services PMI reached the highest mark since 2014, data from the country’s National Bureau of Statistics shows.

BEIJING (Sputnik) – The manufacturing PMI went up to 51.8 this month, compared to 51.6 in February, demonstrating the best reading since April 2012.

The non-manufacturing PMI for March rose 0.9 points from February, to 55.1, which is the highest reading since May 2014.

A PMI reading of over 50.0 points signifies growth, while anything below that reflects contraction.

At the end of 2016, the share of the general services sector in China was at a record 51.6 percent of the total GDP (gross domestic product).