China’s industrial output increases

Beijing. China’s industrial production 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 positive signs.
The PMI index, which reviews Chinese factory output, 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 PII index of more than 50 is an indication of growth 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 epidemic, has seen a continuous crisis in real estate transactions, high youth unemployment and pressure on 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 stimulate the economy, with mixed results.
But on a positive note, there was a modest increase in consumer prices in February.
China’s non-industrial production PMI index improved to 53 points in March. Last month, this PMI was at 51.4 points.
China’s industrial growth was severely depressed last year. After the growth of the economy in the weakest state of the decade, the government had announced a series of financial relief packages.
China’s gross domestic product was 5.2 percent in 2023, according to the official data. But economists claimed that China exaggerated this growth. This growth in China was the weakest since the 1990s and the years of the Covid epidemic Agency