China's factory activity expands at fastest clip in 13 months, Caixin PMI shows

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China's factory activity expands at fastest clip in 13 months, Caixin PMI shows
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Barley Risotto and Kimchi: A Culinary Crossroads| SaltWire #food #cookingshorts #kimchiBEIJING - China's manufacturing activity expanded at the fastest pace in 13 months in March, with business confidence hitting an 11-month high, driven by growing new orders from customers at home and abroad, a private survey showed on Monday.

Citi last week raised its forecast for China's 2024 growth to 5.0% from 4.6%, citing"recent positive data and policy delivery". But analysts say policymakers will need to roll out more stimulus to hit that target as they will not be able to count on the weak statistical base of 2022 which flattered 2023 growth data. Moreover, a deep slump in the property sector remains a major drag on activity.

Businesses' confidence towards the year-ahead rose to its highest point since April 2023 on good news such as a reduction in input costs.

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