Industrial Output Of China Increases

Mar 31, Kathmandu- The industrial production of China has increased for the first time in five months, public government data showed on Sunday.

Policymakers have said that China's efforts to increase industrial production in the world's second-largest economy are a positive sign.

The PMI index, which reviews the output of Chinese factories, was seen at 50.8 in March. According to the Chinese Bureau of Statistics (NBS), this index was at 49.1 points last February.

A PMI index of more than 50 indicates an increase in industrial production. Previously, China's PMI was seen only last September.

A Bloomberg survey also showed that China's industrial production will increase in March.

In recent years, China, which implemented strict rules during the years of the Covid pandemic, has seen a continuous crisis in the real estate business, high youth unemployment and pressure on the money supply.

On the other hand, demand for Chinese goods also decreased due to weak demand worldwide.

In early March, Beijing announced an annual growth target of 5 percent by 2024, but many economists criticized China as ambitious.

Chinese officials have announced various measures to get the economy moving, with mixed results.

But on a positive note, there was a modest increase in consumer prices in February.

The PMI index of China's non-industrial production improved to 53 points in March. Last month, this PMI was at 51.4 points.

Last year, China's industrial growth was sharply depressed. After the growth of the economy in the weakest state of the decade, the government announced a series of economic relief packages.

According to the official data, China's gross domestic product was 5.2 percent in 2023. But economists have claimed that China has exaggerated this growth. This growth in China was the weakest since the 1990s and the years of the Covid pandemic.