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HSBC flash PMI rebounds to 51.7
By Wang Yanlin |
March 21, 2013, Thursday
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Online Edition
Online Edition
CHINA'S manufacturing activities may have expanded at a faster pace this month as both global and domestic demand picked up, a survey showed today.
The HSBC Flash China Manufacturing Purchasing Managers' Index, the earliest available indicator of vitality in the industrial sector, rebounded to 51.7 in March, up from a final reading of 50.4 in February.
A reading above 50 means expansion, and March may become the fifth consecutive month that the index, which is slanted towards private and export-oriented firms, points to expansion.
Qu Hongbin, chief economist for China and co-head of Asian Economic Research at HSBC Holdings Plc, said the rebound was on the back of stronger new orders and production growth.
"This implies the Chinese economy is still on track for a gradual recovery," Qu said, adding inflation remains in check, leaving room for China to leave monetary policy relatively accommodative in a bid to sustain growth.
Some other analysts suggested earlier this month that China should tighten its policy stance to rein in increasing inflationary pressure as the Consumer Price Index surged to a 10-month high of 3.2 percent in February.
The component indices of the HSBC survey showed that input prices fell below 50 this month, pointing to decreasing prices. The manufacturing output index was 52.8, a two-month high, the data showed.
The HSBC Flash China Manufacturing Purchasing Managers' Index, the earliest available indicator of vitality in the industrial sector, rebounded to 51.7 in March, up from a final reading of 50.4 in February.
A reading above 50 means expansion, and March may become the fifth consecutive month that the index, which is slanted towards private and export-oriented firms, points to expansion.
Qu Hongbin, chief economist for China and co-head of Asian Economic Research at HSBC Holdings Plc, said the rebound was on the back of stronger new orders and production growth.
"This implies the Chinese economy is still on track for a gradual recovery," Qu said, adding inflation remains in check, leaving room for China to leave monetary policy relatively accommodative in a bid to sustain growth.
Some other analysts suggested earlier this month that China should tighten its policy stance to rein in increasing inflationary pressure as the Consumer Price Index surged to a 10-month high of 3.2 percent in February.
The component indices of the HSBC survey showed that input prices fell below 50 this month, pointing to decreasing prices. The manufacturing output index was 52.8, a two-month high, the data showed.
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