Both government and private measures of China’s manufacturing index indicate that Chinese manufacturing activity accelerated in March:
HSBC’s survey, conducted in association with market research firm Markit, reported a Purchasing Manufacturing Index (PMI) reading that ranked as the third highest on a monthly basis in the survey’s six-year history, and the highest ever on a quarterly basis. The survey had been conducted in association with another Hong Kong-based investment bank before HSBC took it over last year.
HSBC’s China PMI rose to 57 during the month, up from 55.8 in February. The other PMI put out by the China Federation of Logistics and Purchasing indicated activity firmed to 55.1 in March from 52 in February.
Business Insider Emails & Alerts
Site highlights each day to your inbox.