ICYMI - China's March 2024 manufacturing PMI jumped to its highest in a year

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

• was 51.4 in February
• highest reading since September 2023

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Manufacturing PMI:

The Q1 2020 area mucks up the scaling!