Wednesday 1 April 2015

China's factory activity back to expanding in March

Activity in China's vast factory sector picked up unexpectedly in March, according to a government survey.

The official Purchasing Managers' Index (PMI) was up to 50.1 from February's 49.9, and higher than economists' forecasts of 49.7.
A reading above 50 points shows an expansion in activity in the sector, while one below indicates contraction.
China has cut interest rates twice since November among other measures to boost economic activity.
However, a private survey of the sector showed a much dimmer outlook, indicating that activity had contracted this month.
The final HSBC/Markit PMI came in at 49.6, slightly higher than a preliminary "flash" reading of 49.2 released earlier in March.


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