China Official:Econ Likely Stablized,Recovered In Mar -Xinhua

BEIJING (Dow Jones)--China's economy is likely to have stabilized and recovered based on the China Purchasing Managers' Index for March, the official Xinhua News Agency reported Thursday, citing director of the National Bureau of Statistics Ma Jiantang.

The China PMI, issued by the statistics bureau and the China Federation of Logistics & Purchasing, rose to 52.4 in March from 49.0 in February, marking the first reading above 50 since September. A reading above 50 indicates manufacturing activity is expanding, while a reading below 50 indicates contraction.

The data and "active changes" in China's various regions show Beijing's stimulus measures have taken effect, Xinhua quoted Ma as saying.

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