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China's manufacturers step up the pace
By Wang Yanlin |
April 1, 2010, Thursday
|
Online Edition
Online Edition
CHINESE manufacturing expanded at a faster pace in March, indicating a solid economic recovery but also adding pressure for the country to wind down stimulus measures to avoid overheating and inflation, a pair of indices showed today.
The official Purchasing Managers Index, a yardstick of the nation's manufacturing activities, increased 3.1 percentage points from a month earlier to 55.1 percent in March, the China Federation of Logistics and Purchasing said.
The HSBC China Manufacturing PMI also rose to 57, its third-highest level in the survey's history and up from 55.8 in February.
Both indices managed to stay above 50, the threshold indicating an expansion. Compared with the official PMI, which is weighted heavily towards big domestic companies, the HSBC survey is slanted more towards privately owned and export-oriented firms.
"China's official PMI, which has kept an expanding momentum for 13 straight months, reflects a robust manufacturing sector supported by strong demand from both domestic and overseas markets," said Li Maoyu, an analyst at the Changjiang Securities Co.
"However, policy makers should notice China's fast growth in industrial output in recent months, and put preemptive measures to avoid overheating in the overall economy."
China's industrial production climbed 20.7 percent from a year earlier in the January-February period, up from the increase of 18.5 percent in December. It was consistent with the sharp rebound in exports and the stable advance in retail sales.
The official Purchasing Managers Index, a yardstick of the nation's manufacturing activities, increased 3.1 percentage points from a month earlier to 55.1 percent in March, the China Federation of Logistics and Purchasing said.
The HSBC China Manufacturing PMI also rose to 57, its third-highest level in the survey's history and up from 55.8 in February.
Both indices managed to stay above 50, the threshold indicating an expansion. Compared with the official PMI, which is weighted heavily towards big domestic companies, the HSBC survey is slanted more towards privately owned and export-oriented firms.
"China's official PMI, which has kept an expanding momentum for 13 straight months, reflects a robust manufacturing sector supported by strong demand from both domestic and overseas markets," said Li Maoyu, an analyst at the Changjiang Securities Co.
"However, policy makers should notice China's fast growth in industrial output in recent months, and put preemptive measures to avoid overheating in the overall economy."
China's industrial production climbed 20.7 percent from a year earlier in the January-February period, up from the increase of 18.5 percent in December. It was consistent with the sharp rebound in exports and the stable advance in retail sales.
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