Modern Shanghai cityscape juxtaposed with Chinese flag
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China’s factory activity expanded at strongest pace in more than a year in March private pressureData on Monday showed signs of steady growth in the world’s second-largest economy.
The Caixin China Manufacturing Purchasing Managers Index was 51.1 in March, the highest level since February 2023, and was 50.9 in February. Economists had expected a reading of 51, according to a Reuters poll. 50 points is the dividing line between expansion and contraction.
This reading confirms official data It exceeded market expectations and recorded its strongest performance in 11 months. A separate official survey of non-manufacturing activity in China recorded its strongest reading since June.
National Bureau of Statistics of China Survey data released on Sunday This showed the country’s official manufacturing PMI came in at 50.8 in March, the strongest reading since March last year and stronger than the 49.9 expected in a Reuters poll.
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