China March manufacturing PMI rises to 50.8, beating expectations
Manufacturing activity in China expanded unexpectedly in March after shrinking for three straight months, a private survey showed on Monday.
div > div.group > p:first-child"> The Caixin/Markit Manufacturing Purchasing Managers' Index came in at 50.8 for March. The Caixin March PMI was forecast to remain at 49.9 for a second month, according to a Reuters poll of economists.Results of the private survey came after data on Sunday showed the official Purchasing Managers' Index rose to 50.5 in March from February's three-year low of 49.2, marking the first expansion in four months, according to data released by China's National Bureau of Statistics.
The PMI data come amid ongoing trade talks between the U.S. and China. High-level trade negotiations between the two economic powerhouses are set to resume in Washington this week following last week's talks in Beijing. The Caixin PMI is a private survey focused on smaller businesses and offers a first glimpse into the operating environment. It is closely watched as an alternative to the official PMI.— Reuters contributed to this report.
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