BEIJING, March 31, 2022 (Xinhua) — China’s manufacturing PMI reached 49.5 in March, down from 50.2 in February, data from the National Statistics Authority showed Thursday.
A reading above 50 indicates expansion, while a reading below that indicates contraction.
The resurgence of locally transmitted infections with COVID-19 and growing geopolitical uncertainties affected the activities of Chinese factories in March, said Zhao Qinghe, chief statistician with the National Statistics Authority.
In March, the sub-index, which measures purchase prices of key raw materials, rose 6.1 percentage points from February to 66.1 points. The price sub-index at the factory gate was 56.7 points, up 2.6 percentage points from last month.
The production sub-index settled at 49.5, down 0.9 percentage point from last month, entering the contraction territory.
Thursday’s data also showed that China’s non-manufacturing PMI registered 48.4 in March, down from 51.6 in February.