MNI DATA IMPACT: China March PMI Rises to 3-Mon High At 51.9

China's manufacturing activity as measured by the Purchasing Manager Index (PMI) rose to 51.9 in March from 50.6 in February, reaching a three-month high as manufacturers accelerated their production after the Chinese New Year holidays, the National Bureau of Statistics said on Wednesday. The PMI registered a 13th-month expansion above the breakeven 50.0.

MNI highlights the following key points:

• Production and new-order indices rose 2.0 and 2.1 percentage points to 53.9 and 53.6. Manufacturers in non-metallic mineral products, equipment and electrical machinery performed particularly well, with both indices above 55.0, NBS said.
• New-export orders and imports were 51.2 and 51.1, 2.4 pp and 1.5 pp higher than last month, as major economies overseas continue to recover, the NBS said.
• The non-manufacturing gauge jumped to 56.3 from 51.4. The service business activities sub-index was 55.2 compared with 50.8.
• The activities index in railway and air transportation, telecommunications, information technology and financial services were at a high level above 60.0 as activity grew rapidly, the NBS said.