The official manufacturing PMI came in at 50.2 in March, versus economists’ expectations of 49.4. It was 49 in February. Any reading above 50 signals expansion – something Chinese manufacturers surveyed have not reported for eight months.

3月份，中国官方制造业购经理指数(PMI)为50.2，而经济学家的预期为49.4，2月份的读数则为49。读数高于50，代表制造业活动处于扩张之中。此前，中国制造业活动已连续8个月未呈现扩张了。

For services the PMI was 53.8, compared to 52.7 in February. The services sector traditionally does a little better.

3月份的中国服务业PMI为53.8，比2月份的52.7也要高一些。中国服务业的表现历来要比制造业好一些。

The component monitoring new export orders was positive, at 50.2. Earlier this week a China business survey conducted by FT Confidential Research (FTCR), a research unit owned by the Financial Times, reported that resurgent sales in the real estate sector had boosted the Chinese economy in March. Ongoing monetary easing and increasing government investment on infrastructure may have also helped.

关注新出口订单的子项的读数为50.2，也处于扩张区间。本周早些时候，英国《金融时报》旗下研究部门《投资参考》(FT Confidential Research)对中国企业展开的一项调查显示，3月份房地产销售的复苏对中国经济起到了提振作用。正在实施的货币放松以及政府对基础建设日益加大的投资，可能对经济也起到了帮助作用。