TDF - China's NBS manufacturing PMI returns to expansion in March; services growth at 9-month high
2024-04-01 01:33:11 ET
- The official NBS Manufacturing PMI in China was up to 50.8 in March 2024 from 49.1 a month earlier, above market forecasts of 49.9. It was the first growth in factory activity in 6 months and the steepest pace for a year, recent upbeat indicators in the mainland as the government ramped up efforts to help stimulate an economic recovery.
- The official NBS Non-Manufacturing PMI for China rose to 53.0 in March 2024 from 51.4 in the previous month. It was the 15th consecutive month of expansion in services activity and the fastest pace since last June, amid a softer fall in new orders (47.4 vs 46.8 in February).
- The NBS Composite PMI Output Index in China increased to 52.7 in March 2024 from 50.9 in the prior month, pointing to the highest figure since last May amid a rebound in the manufacturing sector and the fastest expansion in nine months for services activity.
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- Currency: ( CNY:USD )
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