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. 20.07.2018
    20.07.2018
    by      In
    The Innovative Manufacturing CRC has signed a framework agreement with the Fraunhofer Society with the aim of increasing the awareness and uptake of Industry 4.0 in Australian manufacturing industry.
    The German Fraunhofer Society is one of Europe’s leading organisations for applied research, and... Read More
  2. 19.07.2018
    19.07.2018
    by      In
    The Australian Made Campaign has named Ben Lazzaro as its new Chief Executive, succeeding Ian Harrison, who steps down at the end of July. The announcement was made following the organisation’s board meeting this week in Melbourne.
    Lazzaro, who has an engineering and communications background, has... Read More
  3. 19.07.2018
    19.07.2018
    by      In
    Siemens Australia and Motorola Solutions have formalised their relationship to develop innovative technologies for Australia’s industrial sector via an exclusive partnership. Motorola Solutions has joined the Siemens’ Solution Partner Programme, becoming only the second company in Australia... Read More
  4. 18.07.2018
    18.07.2018
    by      In
    Australia’s only dedicated trade event for the electronics industry will this year be held in Sydney in September. Electronex – The Electronics Design and Assembly Expo will be staged on 5th and 6th September at Rosehill Gardens Event Centre with free parking for visitors.
    The expo is now in its... Read More