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:
China March 2024 Official Manufacturing PMI 50.8 (expected 50.1) Services 53.0 (exp 51.5)
Manufacturing PMI 50.8 in March vs.
49.9 expected and 49.1 in FebruaryAbove 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 2023new export orders rose into expansion after 11 monthsemployment fell, at a slower rate
For the non-manufacturing PMI, which includes services
and construction, it rose to 53
was 51.4 in Februaryhighest reading since September 2023
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Manufacturing PMI:
The Q1 2020 area mucks up the scaling!
This article was written by Eamonn Sheridan at www.forexlive.com.