A resolution to the China-U.S. trade dispute is still in the works, but China’s manufacturing sector just returned to growth for the first time in four months, a sign that its government’s economic stimulus appears to be working
. Both the private Caixin and official Chinese government purchasing managers’ indices beat consensus by rising sharply above 50.0 in March, indicating factory expansion.The strong upward move likely reflects the outcome of a record $83 billion China’s central bank injected into the financial system back in January. At the time, policymakers also signaled they may cut rates this year if the stimulus doesn’t bear fruit.
So far, it seems to be helping the world’s second-largest economy come off a weak end to 2018. According to research firm China Beige Book, the country’s economy showed “an unmistakable first-quarter recovery,” with company borrowing at its highest level since mid-2013.Chinese stocks, as measured by the Shanghai Composite Index, climbed to a nine-month high last week and are currently up some 27 percent from their low in December 2018.
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