China's factory activity expands at fastest clip in 13 months, Caixin PMI shows
© Reuters. A truck passes by a chemical factory near the Jinjie Industrial Park in Shenmu, Shaanxi province, China November 20, 2023. REUTERS/Ella Cao/File PhotoBEIJING - China's manufacturing activity expanded at the fastest pace in 13 months in March, with business confidence hitting an 11-month high, driven by growing new orders from customers at home and abroad, a private survey showed on Monday.
Citi last week raised its forecast for China's 2024 growth to 5.0% from 4.6%, citing"recent positive data and policy delivery". Expansion in manufacturers' output and new orders accelerated last month, the PMI survey showed. External demand also picked up, pushing the gauge for new export orders to its highest level since February 2023.
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