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Barometer of economic growth indicates economy is stabilizing
08
Apr '09
Director General Ma Jian Tang of National Bureau of Statistics said recently that Chinese manufacturing PMI index has been inching upwards since the past four months and surpassed 50 points, which marks the dividing line of expansion and contraction of economy.

According to figures released by the department, March PMI index crossed the psychological barrier of 50 and is now 52.4. PMI index was 38.8 in November last year, 41.2 in December, 45.3 in January 49.0 in February, which indicates that the economy is stabilizing slowly, but surely.

Ma Jian Tang said that the consecutive increase of PMI index reflects the stimulus package of policies released by the government for expanding domestic demand, promoting growth, adjusting structure, deepening reform and improving people's livelihood has had its desired effects.

PMI index is one of the leading indexes reflecting the economic growth in China. Chinese National Bureau of Statistics and the United Federation of Logistics and Purchasing conduct a survey of about 730 samples companies covering 30 manufacturing industries in 31 provinces with 100 percent feedback rate.

Fibre2fashion News Desk - China

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