Factory activity registers modest growth in March

Staying resilient: Workers paving a sidewalk in Beijing. China’s strong fiscal stimulus is providing support for the economy by offsetting headwinds. — AFP

SHANGHAI: China’s factory activity expanded modestly for a second straight month in March, adding to a string of recent indicators pointing to a stabilising economy amid improved sentiment in the manufacturing sector.

Data from the National Bureau of Statistics (NBS) showed that China’s official purchasing managers index (PMI) for the manufacturing sector rose from 50.2 in February to 50.5 in March, its highest level in a year, staying above the 50 mark that separates expansion from contraction.