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China official manufacturing activity unexpectedly expands in March
[BEIJING] Activity in China's manufacturing sector unexpectedly expanded in March, an official survey showed on Friday, adding to hopes that downward pressure on the world's second-largest economy is easing.
The official Purchasing Managers' Index (PMI) stood at 50.2 in March, compared to the previous month's reading of 49 and above the 50-point mark that separates growth from contraction on a monthly basis.
Analysts polled by Reuters had predicted a reading of 49.3, which would have marked the seventh straight month of contraction.