These are the official survey PMIs, Caixin/Markit PMIs will follow later this week.

Manufacturing surged to 52.0 and leaps back into expansion

  • expected 44.8, prior 35.7

Non-manufacturing, 52.3 and pretty much ditto

  • expected 42.0, prior 29.6%

Composite 53.0

  • prior 28.9

National Bureau of Statistics says the PMIs alone do not mean the economy is back to normal.

Some of the sub measures:

March and February figures

  • Output 54.1 27.8
  • New orders 52.0 29.3
  • Inventories of raw materials 49.0 33.9
  • Employment 50.9 31.8
  • New export orders 46.4 28.7
  • Input prices 45.5 51.4
  • Output prices 43.8 44.3