China’s Manufacturing Sector Expands for Fifth Straight Month, Caixin PMI Shows

Activity in China’s manufacturing sector expanded at the fastest pace in 13 months in March, with growth in both domestic and overseas demand accelerating, a Caixin-sponsored survey showed Monday, adding to evidence of a sustained recovery in the world’s second-largest economy despite a prolonged real estate slump and sluggish consumption.

The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives an independent snapshot of the sector, rose to 51.1 in March from 50.9 the previous month. A reading above 50 signals an expansion in activity, while a number below that indicates a contraction.