Chin Manufacturing Activity Growth At 1-Year High

(RTTNews) - China's manufacturing activity logged its fastest growth in a year in March as exports surged ahead of further tariff hikes, official survey data revealed on Monday.

The factory PMI posted 50.5 in March compared to 50.2 in the prior month, the National Bureau of Statistics said. A score above 50.0 indicates expansion in the sector. The reading was seen at 50.4.

Likewise, the non-manufacturing PMI rose to 50.8 in March from 50.4 in the previous month. The expected reading was 50.5.

The composite output index advanced to 51.4 in March from 51.1 in February.

Although infrastructure spending is ramping up again and exports so far remaining resilient in the face of US tariffs, the surveys are still consistent with slower GDP growth in the first quarter amid weakness in the services sector, Capital Economics economist Julian Evans-Pritchard said.