China’s factory activity contracts for fifth straight month in March

London, March 25: China’s factory activity has reportedly declined for a fifth straight month in March, according to a new report released recently.

The HSBC Purchasing Managers’ Index (PMI) fell to 48.1 for March from 48.5 in February, below the benchmark of 50, indicating further contraction.

According to the BBC, China’s official PMI survey, weighted more towards bigger and state-owned enterprises, will be released later this month.

Meanwhile, China’s exports reported a drop of 18 percent compared to last year’s exports in February, leading to a trade deficit of 23 billion dollars (14bn pounds) for the month. (ANI)