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
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Manufacturing PMI:
The Q1 2020 area mucks up the scaling!
