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:

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


Manufacturing PMI:

china manufacturing pmi 01 April 2024 2

The Q1 2020 area mucks up the scaling!