China's manufacturing activity expands in March after a 5-month lull

Manufacturing in China expanded in March after contracting for five consecutive months. That's according to an official survey of factory managers released Sunday that suggests a rebound in industrial activities after many factories stopped running during the Lunar New Year holiday. The official purchasing managers index, or PMI, rose from 49.1 in February to 50.8 in March. The PMI is on a scale up to 100, where 50 marks the cutoff between expansion and contraction. National Bureau of Statistics senior statistician Zhao Qinghe said the market became more active as companies sped up their resumption of production after the Lunar New Year holiday.