TOKYO, April 1 Factory activity in many Asia economies weakened in March despite a rebound in China as lacklustre domestic demand dragged on growth, surveys showed today,.
The positive outturn, however, contrasted with an official survey on the previous day showing manufacturing activity contracted again last month due to persistently weak demand.
The official manufacturing purchasing managers index was 49.2 this month, the National Bureau of Statistics said in a statement on Wednesday slightly above December’s reading of 49 but still below the 50 mark that separates expansion from contraction. Economists had expected 49.3.
The official manufacturing purchasing managers index fell to 49.4, the second straight month of contraction, according to a Thursday statement from the National Bureau of Statistics. While economists expected a decline in the index, the number was lower than estimates.