China Manufacturing Rebounds in March, Climbing Out of 5-Month Contraction

China's manufacturing Purchasing Managers' Index (PMI) rose to 50.8 in March, indicating expansion after 5 months of contraction. It was the highest reading in a year.

The PMI surveys supply chain managers monthly across 5 categories to gauge manufacturing sector health. A reading above 50 signals growth.

15 of 21 industries surveyed hit the 50 expansion benchmark in March, up from just 5 in February, signaling stabilizing growth.

The new orders index jumped 4 points to 53 percent, suggesting resurgent demand in manufacturing.

Employment fell again but less rapidly than February, with the index at 48.1 in March versus 47.5 the previous month.