Her factory activity exceeded expectations in March, after the shrinkage she recorded for five consecutive months, while the reported recovery of production, as well as product demand, as they appear optimistic about their course. Caixin’s supply managers index for processing businesses in China increased to 51.1 today (1.4.2024) – above the 50 limit indicating an extension for the fifth month, the largest streak in more than two years. Government data published Sunday (31.3,2024) showed that the PMI manufacturing index in March discontinued a five-month shrinkage and increased to the highest level of the last year. It was recorded at 50.8 units in March, recovering in the development zone from the percentage of 49.1 units in February. Both figures exceeded market expectations, adding evidence that the country’s industrial sector is developing dynamics for economic recovery. China’s CSI 300 benchmark rose 1.5%, the largest rise in the last month, today (1.4.2024). Stock transactions in Hong Kong were closed due to public holidays. The yield of 10-year government bonds increased by 1 basis unit to 2.31% at 11:58 a.m. in Shanghai. Exports increased sharply in the period January – February amid a global trade cycle, rekindling hopes that the improvement of demand from abroad will contribute to the wider recovery of the Chinese economy, since it was a brake last year. In an indication that exports likely continued to be robust in March, the indicator of new export orders to the official PMI index recovered to 51.3, for the first time after a year expanded. Greater demand also recovered, with the sub-indice of new orders rising to 53, the highest level of the last year.
China: Factory Activity Recorded Recovery · Global Voices
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