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China Mars PMI: The factories now tear the economic downturn




The country's large manufacturing industry rose unexpectedly in March, the government showed Sunday. The official purchasing manager index for the month went to 50.5, against 49.2 in February. A reading over 50 indicates growth from last month.

A separate survey of production activity by the media group Caixin and research firm Markit released Monday was also unexpectedly positive.
Goods made in Chinese factories are shipped worldwide, and the demand is often seen as a barometer of the health of the world economy.

Growth in China's factory sector reversed the end of last year, and the economists asked by Refinitiv had predicted that this trend would continue.

 Asian stock markets were up Monday, boosted by a better than expected rise in China's manufacturing sector and optimism over US-China trade negotiations.

The rise in China's manufacturing sector and optimism over trade negotiations between the world's top two economies increased Asian stock markets Monday. China's Shanghai Composite ( SHCOMP ) index rose more than 2%, Hong Kongs Hang Seng ( HSI ) 1.7% and Japan Nikkei ( N225 ) 2.2% on Monday shopping.

  How bad is China's economic downturn? It's impossible to tell

Stimulus begins to bear fruit

Chinese growth has lost momentum following the government's efforts to knock down risky lending, which starved many companies of the funds they needed to expand.

The world's second largest economy has also begun to feel the effect of the trade war with the United States, which has resulted in new tariffs of about $ 250 billion of Chinese exports.

Last month, the Chinese government predicted economic growth between 6% and 6.5% in 2019. It is below last year's 6.6% rate of expansion, which was already China's most important annual growth for three decades.
In response, Beijing has taken trillions of dollars worth of new measures to stimulate the economy, including corporate tax cuts, infrastructure spending, and looser monetary policy.
  China cuts taxes as it warns

Marss' positive data shows that these guidelines "obviously bear fruit", Raymond wrote Yeung, senior economist at investment bank ANZ, in a note to clients Monday.

The Caixin PMI release noted that factories employed several workers for the first time in five years.

Some analysts said the latest economic figures showed that China's economy had now bottomed out and growth is likely to continue to strengthen in the coming months as the impact of stimulus felt.

But others warned that it was still too early to tell whether China's economic image was better. "We still believe that growth can deteriorate again in the short term," says Julian Evans-Pritchard, senior Chinese economist at Capital Economics research firm.



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