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Chinese manufacturing

Manufacturing activity in China rebounded in March after three consecutive months of slowdowns, official data showed on Friday, possibly giving Beijing more leeway to take new measures to rein in inflation.

The purchasing managers index (PMI) rose to 53.4 in March from 52.2 in February, the China Federation of Logistics and Purchasing (CFLP) said in a statement.

The agency compiled the index on behalf of the National Bureau of Statistics. A reading above 50 indicates the sector is expanding while a reading below 50 means it is contracting.


The CFLP said its input price sub-index, an indicator of inflation pressures, eased to 68.3 from 70.1 in February. 

"Investment growth remained high in the January-February period, while growth in exports and consumption both declined," CFLP analyst Zhang Liqun said in a statement.

The Chinese government has raised interest rates three times since October and hiked bank reserve requirements three times already this year to control soaring prices, which top leaders fear could lead to social unrest.

Consumer inflation remained stubbornly high at 4.9 per cent in February, above Beijing's 2011 target of four percent. The official Shanghai Securities News reported Friday that economists expect it to hit five per cent in March.

09:26 | |

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