Factory activity in China unexpectedly grew for the first time in four months in March, an official survey showed on Sunday, suggesting government ...
BEIJING: Factory activity in China unexpectedly grew for the first time in four months in March, an official survey showed on Sunday, suggesting government stimulus measures may be starting to take hold.
Factory output grew at its fastest pace in six months in March, reversing a brief contraction in the previous month. It rose to 52.7 from February's 49.5, the highest level seen since September 2018. Total new orders also grew at a quicker pace. U.S. officials told Reuters on Wednesday that the United States and China have made progress in all areas under discussion in trade talks, with unprecedented movement on the touchy issue of forced technology transfers.
The PMI survey showed small and mid-sized manufacturers, still fared worse than large companies, many state-controlled, although their activity notably improved from the previous month, suggesting that policymakers' efforts in channeling enough affordable financing to the private sector are gradually working.
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