China Manufacturing Expands at Faster Pace, PMI Gauges Show
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Bloomberg (01) - China’s manufacturing
expanded at a faster pace last month, indicating a recovery in the
world’s second-largest economy is sustaining momentum.
The Purchasing Managers’ Index was 50.9, the National Bureau of Statistics and China Federation of Logistics and Purchasing said today in Beijing, an 11-month high and up from 50.1 in February. A separate gauge from HSBC Holdings Plc and Markit Economics rose to 51.6 in March from 50.4. Readings above 50 indicate expansion. A pickup in manufacturing will help the new government under Premier Li Keqiang sustain a rebound after factory output had the weakest January-February growth since 2009 and Goldman Sachs Group Inc.
questioned the strength of exports. Faster
expansion may also fuel inflation, spurring tighter monetary policy from
the central bank.
The government PMI was lower than the 51.2 median estimate of 26 analysts surveyed by Bloomberg News. The HSBC index (SHCOMP)’s final reading matched the median estimate of 10 analysts. The preliminary level issued March 21 was 51.7. http://www.bloomberg.com/news/2013-04-01/china-manufacturing-gauge-rises-to-highest-level-in-11-months.html |
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