PMI rise indicates more growth

Overseas visitors talk with Chinese textile manufacturers at a trade fair held earlier in Beijing this year. For industries such as electronics, textiles and nonferrous metals, the Purchasing Managers' Index rose above 60. [Photo / China Daily]

Expansion looks set to continue as index rises to 53.4 in March

BEIJING - The official Purchasing Managers' Index (PMI) increased to 53.4 in March from 52.2 in February.

The official increase was shadowed by a PMI report from HSBC released on Friday, which rose slightly to 51.8 in March. The figures indicate that the world's second-largest economy may continue to expand at a rapid pace this year, and avoid the risk of a "hard landing", analysts said.

The official PMI rebounded from February's six-month low, according to the China Federation of Logistics and Purchasing on Friday. The March figure is the first gain after three consecutive months of decline since December. A PMI reading above 50 indicates expansion, while one below 50 suggests contraction.