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MNI BRIEF: Caixin Mar Manufacturing PMI Hits One-Year High

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China's Caixin manufacturing PMI registered 51.1 in March, up 0.2 points from February, staying in the expansionary zone above the breakeven 50 mark for a fifth month and hitting the highest level since March 2023, driven by the rapid resumption of production following the Chinese New Year, the financial publisher said on Monday.

Both production and new orders sub-indices continued upward trends, with the production side hitting the highest in the past 10 months. External demand also kept improving, with the new export orders sub-index in the expansion range for three consecutive months and hitting the highest since March 2023.

Caixin's PMI mainly tracks small and medium-sized manufacturers. The official PMI, which was released on Sunday and typically covers large state-owned companies, jumped by 1.7 points to 50.8 in March.

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China's Caixin manufacturing PMI registered 51.1 in March, up 0.2 points from February, staying in the expansionary zone above the breakeven 50 mark for a fifth month and hitting the highest level since March 2023, driven by the rapid resumption of production following the Chinese New Year, the financial publisher said on Monday.

Both production and new orders sub-indices continued upward trends, with the production side hitting the highest in the past 10 months. External demand also kept improving, with the new export orders sub-index in the expansion range for three consecutive months and hitting the highest since March 2023.

Caixin's PMI mainly tracks small and medium-sized manufacturers. The official PMI, which was released on Sunday and typically covers large state-owned companies, jumped by 1.7 points to 50.8 in March.