none

CHINA MANUFACTURING BOUNCES BACK

05-04-2016
by 
in 

China manufacturing activity in March expanded for the first time in nine months, according to official data.

The result was much stronger than expected, indicating the world's second-largest economy may be back on track after struggling for months due to a slump in global demand for Chinese products.

China's economy grew only 6.9 percent last year, its weakest rate in a quarter of a century.

The official Purchasing Managers' Index (PMI) from the National Bureau of Statistics (NBS), rebounded to 50.2 for March from 49.0 the previous month.

This was the highest number and first expansion since June 2015.

The result surpassed the median 49.4 predicted by economists in a recent Bloomberg News survey. A reading above 50 signals expanded activity.

Zhao Yang, China economist for Nomura, said the data was "much stronger" than forecast and showed "across the board" improvement.

This "means a rebound could be stronger and more lasting than we initially thought," he told AFP.

However, NBS analyst Zhao Qinghe warned the PMI figures could be partially attributed to seasonal factors, as well as to a rebound in fixed-asset investment and the property market.

There was also some relatively good news from the private Caixin Purchasing Managers' Index, which puts a greater emphasis on smaller firms.

That came in at 49.7, its highest reading in 13 months, the Chinese financial magazine said in a joint statement with data compiler Markit.

It said the figure showed "only a fractional deterioration in the health of the sector", as companies cited an improvement in orders. Although weak foreign demand "remained a drag" on growth, it added.

Related news & editorials

  1. 22.09.2020
    22.09.2020
    by      In
    Australian energy management software company SwithchDin is set to launch its accelerated growth under the new leadership of appointee Marc Sheldon as Chief Operating Officer.
     Mr Marc Sheldon will take SwitchDin to the next stage of expansion. He will execute on the company’s strategy with... Read More
  2. 22.09.2020
    22.09.2020
    by      In
    Local firm Leussink was engaged by Dutch company Boon Edam, to create a bespoke visual display unit for security entrances.
     To mitigate the risk of spreading coronavirus through building entrances, Boon Edam is expanding its range of touchless entrance solutions.
     Touchless entrance systems are... Read More
  3. 22.09.2020
    22.09.2020
    by      In
    A training program to develop high level welding skills was recognised by industry in the Premier’s Industry Collaboration Award granted recently to TAFE Queensland and Rheinmetall Defence Australia.
     The industry training collaboration between TAFE Qld and Rheinmetall Defence Australia delivered... Read More
  4. 17.09.2020
    17.09.2020
    by      In
    A new report from Australia’s national science agency, CSIRO, has revealed the opportunities for key industries to leverage science and technology and help restore economic growth and resilience.
    The COVID-19: Recovery and resilience report highlights the trends and national advantages COVID-19... Read More