none
none

China manufacturing on a high

31-08-2010
by 
in 
China manufacturing on a high

 

Manufacturing activity in China expanded at its fastest pace in almost a year last month, according to latest industry data.

The official purchasing managers' index (PMI) hit 50.9 in March, the highest since April 2012 when the figure stood at 53.3, according to the National Bureau of Statistics and the China Federation of Logistics and Purchasing (CFLP).

A reading above 50 indicates expansion.

The latest figures indicate the Chinese economy – the second largest in the world – is continuing to improve.

PMI is a widely watched barometer of the health of China's economy, with The March reading improved from 50.1 in February and signalled the sixth consecutive month of expanding manufacturing activity in the country.

According to a CFLP statement, the rebound in PMI last month was led by increasing new orders as demand improved, driven by exports and investment.

China's economy expanded 7.8 per cent in 2012, its slowest pace for 13 years.

But growth accelerated in the final three months of last year to 7.9 per cent, breaking seven straight quarters of weakening expansion.

Related news & editorials

  1. 22.02.2018
    22.02.2018
    by      In
    As part of LAND 400 defence bidding, Australia stands to receive international technology that would allow world-leading ballistic armour to be produced in a local environment. 
    If bidding is sucessful, RUAG Australia will produce the cutting-edge ballistic armour for 225 Australian Army Combat... Read More
  2. 22.02.2018
    22.02.2018
    by      In
    As the sheer scale of corporate and private food waste continues to grow as a political and economic issue, more and more groups are stepping up to show just how much our wasteful practices are costing us. 
    The newly formed Australian Food Cold Chain Council aims to address food wastage by tackling... Read More
  3. 22.02.2018
    22.02.2018
    by      In
    Carnegie Clean Energy has received a grant of AU$3 million from the government of South Australia to build a 2MW battery system near Adelaide.
    The 2MW/500kWh storage project will be installed on the site of the former General Motors Holden manufacturing facility in Elizabeth.
    The grant was awarded... Read More
  4. 22.02.2018
    22.02.2018
    by      In
    Even as large automotive brands pulled out of Australian manufacturing, truck manufacturer Iveco has been pushing into the Australian market, increasingly selling and manufacturing on-shore. 
    Along with Volvo/Mack and Kenworth/DAF, Iveco is one of a few truck manufacturers still building in... Read More