31.03.202601:45:57UTC+00China NBS General PMI Rises to 3-Month High

China’s NBS Composite PMI Output Index rose to 50.5 in March 2026 from 49.5 in February, its highest level since December and a return to expansion territory. The uptick was largely driven by a rebound in manufacturing output, as firms ramped up production following the Spring Festival and supply chains and labor availability gradually normalized. The services sector also returned to growth after two consecutive months of contraction, supported by policy measures and relatively stable business sentiment. However, escalating tensions in the Middle East continue to pose risks: higher energy prices and potential shipping disruptions could push up input costs and dampen external demand, particularly for export-oriented firms. NBS statistician Huo Lihui noted that overall production and operations among Chinese enterprises are improving, pointing to a broader recovery across sectors despite ongoing external uncertainties.