MCHI - China's Caixin Manufacturing Sector Surges To A 13-Month Peak Signaling Economic Revival | Benzinga
In a significant turn of events, China’s manufacturing sector has shown robust growth, marking a promising sign for the global economy.
What Happened: Caixin Global reported on Monday that the Caixin China General Manufacturing Purchasing Managers' Index (PMI) rose to 51.1 in March from 50.9 the previous month, marking the fastest pace in 13 months. This expansion reflects growth in both domestic and overseas demand, adding to evidence of a sustained recovery.
This marks the fifth consecutive month of expansion, as readings above 50 indicate growth.
This reading corroborates official data that surpassed market expectations and came at its strongest in 11 months. Another official survey for non-manufacturing activity in China recorded its most robust reading since June.
China's National Bureau of Statistics released survey data on Sunday that showed the country's official manufacturing PMI coming in at 50.8 in March, its strongest reading since March last year that was also stronger than expectations for 49.9 in a Reuters poll.
This surge follows a series of positive economic data, including exports and retail sales, pointing to a strong ...