China's March factory activity expands for first time in six months

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China's March factory activity expands for first time in six months
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Barley Risotto and Kimchi: A Culinary Crossroads| SaltWire #food #cookingshorts #kimchiSHENZHEN, China -China's manufacturing activity expanded for the first time in six months in March, an official factory survey showed on Sunday, offering relief to policymakers even as a crisis in the property sector remains a drag on the economy and confidence.

New export orders rose into positive territory, breaking a 11-month slump, but employment continued to shrink, albeit at a slower rate, the PMI data showed. "March data show the economy is poised for a strong end to Q1," China Beige Book, an advisory firm, said in a note last week."Hiring recorded its longest stretch of improvement since late 2020. Manufacturing picked up, as did retail."

Premier Li Qiang announced an ambitious 2024 economic growth target of around 5% earlier this month at the annual meeting of the National People's Congress, China's rubber-stamp parliament.

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