China's factory activity expands for first time in six months

Official PMI rose to 50.8 in March, beats expectations

20240331 China factory

A truck passes by a chemical factory near the Jinjie Industrial Park in Shenmu, Shaanxi province, China on Nov. 20, 2023.  © Reuters

SHENZHEN, China (Reuters) -- China's manufacturing activity expanded for the first time in six months in March, an official factory survey showed on Sunday, offering relief to policymakers even as a crisis in the property sector remains a drag on the economy and confidence.

The official purchasing managers' index (PMI) rose to 50.8 in March from 49.1 in February, above the 50-mark separating growth from contraction and topping a median forecast of 49.9 in a Reuters poll.

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