http://www.marketwatch.com/story/china-manufacturing-picks-up-modestly-2013-03-31?dist=tcountdown

China manufacturing picks up modestly

Chinese manufacturing activity picked up in March, two surveys showed on Monday, indicating a rebound after activity appeared to slow in February.

However, economists remained cautious on the outlook for Chinese growth, saying the acceleration is mainly due to seasonal factors, and the rise in the March readings was subdued compared with that seen in earlier years.

“The upturn in the economy is continuing, but there’s not a whole lot of enthusiasm to rebuild inventories, to increase supply,” said BNP Paribas economist Ken Peng.

The country’s official purchasing managers’ index, a government survey of manufacturers, rose to 50.9 in March from 50.1 in February.

It was the highest reading since April last year, indicating that growth in manufacturing activity accelerated. The index is jointly released by the China Federation of Logistics & Purchasing and the National Bureau of Statistics.

Meanwhile, the HSBC PMI, a competing survey of manufacturers, rose to 51.6 in March from 50.4 in February. However the slow February results may have been caused by the Lunar holiday, in which workers take time off.