Results of a private survey released on Wednesday showed China's manufacturing activity 50.1 in March as factories began to come online amid a coronavirus outbreak.
Analysts polled by Reuters had expected the Caixin/Markit PMI to come in at 45.5, compared with February's sharpest contraction on record at 40.3.Although the survey showed business confidence improved as output resumed gradually, Caixin and IHS Markit noted demand challenges ahead.
Analysts said the official reading on Tuesday showed an expansion after Chinese economic activity came to a halt in February. The PMI readings are sequential. Factories are just starting to come online as daily infection numbers slow. China has said most new infections are now from residents returning from other countries.
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