China's manufacturing sector expanded for a fourth consecutive month in March, despite mounting input and output costs, according to data released Wednesday by RatingDog, a Shenzhen-based financial technology and credit research firm.

The manufacturing Purchasing Managers' Index (PMI) stood at 50.8 in March, down from 52.1 in February but still above the 50.0 threshold that separates expansion from contraction.

Broad-based momentum underpinned the latest reading: new orders posted their second-fastest growth in six months, extending a 10-month streak of increases, while employment rose for a third straight month, the longest uninterrupted gain since mid 2021.

On the price front, both input and output costs accelerated at their sharpest pace since March 2022, but manufacturers in China expressed continued optimism regarding production prospects over the next 12 months.