China's Manufacturing Sector Surges to 1-Year High in March 2024
ICYMI - China's March 2024 manufacturing PMI
Data out over the weekend, ICYMI, showed China's manufacturing activity expanded for the first time in six months in March. This was the official PMI data for March:
- China March 2024 Official Manufacturing PMI 50.8 (expected 50.1)
- Services 53.0 (exp 51.5)
- Manufacturing PMI 50.8 in March vs. 49.9 expected and 49.1 in February
Above the 50 level means the sector was in expansion. In addition to being the first expansion in 6 months, it was also the highest PMI reading since March of 2023. New export orders rose into expansion after 11 months, employment fell at a slower rate. For the non-manufacturing PMI, which includes services and construction, it rose to 53 and was 51.4 in February, the highest reading since September 2023.
Manufacturing PMI:
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This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.