{"id":111050,"date":"2021-04-01T04:16:09","date_gmt":"2021-04-01T04:16:09","guid":{"rendered":"https:\/\/fin2me.com\/?p=111050"},"modified":"2021-04-01T04:16:09","modified_gmt":"2021-04-01T04:16:09","slug":"chinas-march-factory-activity-growth-slowest-in-almost-a-year-private-survey-finds","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/chinas-march-factory-activity-growth-slowest-in-almost-a-year-private-survey-finds\/","title":{"rendered":"China&#x27;s March factory activity growth slowest in almost a year, private survey finds"},"content":{"rendered":"<ul>\n<li>China&#x27;s factory activity in March expanded at the slowest pace in almost a year on softer overall domestic demand, but underlying economic conditions remained positive even as input and output inflationary pressures intensified for manufacturers.<\/li>\n<li>The Caixin\/Markit Manufacturing Purchasing Managers&#x27; Index (PMI) dropped to 50.6 last month \u2014 the lowest level since April 2020 \u2014 from February&#x27;s 50.9, missing analyst expectations for an uptick to 51.3.<\/li>\n<li>The 50-mark separates growth from contraction on a monthly basis.<\/li>\n<\/ul>\n<p>China&#x27;s factory activity in March expanded at the slowest pace in almost a year on softer overall domestic demand, but underlying economic conditions remained positive even as input and output inflationary pressures intensified for manufacturers.<\/p>\n<p>The Caixin\/Markit Manufacturing Purchasing Managers&#x27; Index (PMI) dropped to 50.6 last month \u2014 the lowest level since April 2020 \u2014 from February&#x27;s 50.9, missing analyst expectations for an uptick to 51.3.<\/p>\n<p>The 50-mark separates growth from contraction on a monthly basis.<\/p>\n<p>The findings contrast with those in an official survey which showed manufacturing activity grew at a stronger pace as large firms ramped up production after a brief lull during the Lunar New Year holidays.<\/p>\n<p>Although supply chain disruption related to previous Covid-19 outbreaks eased, the private survey showed factories reported a sharp increase in input costs, which surged at their fastest clip in 40 months.<\/p>\n<p>The Caixin survey focuses on small, private and export-oriented firms while the official survey typically polls large and state-owned manufacturers.<\/p>\n<p>Producer price inflation in February already picked up to its highest level in more than two years.<\/p>\n<p>&quot;We should pay attention to inflation in future as the gauges for input and output prices have been rising for several months,&quot; said Wang Zhe, senior economist at Caixin Insight Group, in a statement accompanying the data release.<\/p>\n<p>&quot;The growing inflationary pressure limits the room for future policies and is not a good thing for sustaining an economic recovery in the post-epidemic period.&quot;<\/p>\n<p>Exporters previously told Reuters that they were facing a squeeze in profits due to surging raw material prices, a rallying Chinese currency and rising labor costs.<\/p>\n<p>But not everything was gloomy, as Thursday&#x27;s survey showed the return to growth of new export orders as foreign demand improves amid greater global Covid-19 vaccination efforts \u2014 in line with findings in the official survey.<\/p>\n<p>Chinese manufacturers trimmed their staffing levels for the fourth straight month in March, but the rate of reduction was only marginal.<\/p>\n<p>Firms also remained strongly optimistic about the business outlook over the next year due to hopes of an end to the pandemic, a rebound in overseas demand and plans to expand capacity, the survey showed.<\/p>\n<p>China managed to largely bring the Covid-19 pandemic under control much earlier than many countries as authorities imposed stringent anti-virus curbs and lockdowns at the initial phase of the outbreak.<\/p>\n<p>That has helped its economy mount a rapid turnaround after a slump at the start of 2020, led by resurgent exports growth as factories raced to fill overseas orders.<\/p>\n<p>Beijing has set an annual economic growth target at above 6% this year, well below analyst expectations for an expansion of more than 8% as authorities emphasized the importance of solidifying the recovery rather than chasing higher GDP numbers.<\/p>\n<p>China was the only major economy to post growth last year with an expansion of 2.3%, but that still marked the weakest annual pace in more than 40 years due to the Covid-19 fallout.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/04\/01\/chinas-march-factory-activity-growth-slowest-in-almost-a-year-caixin.html\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>China&#x27;s factory activity in March expanded at the slowest pace in almost a year on softer overall domestic demand, but underlying economic conditions remained positive [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":111049,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China&#x27;s March factory activity growth slowest in almost a year, private survey finds - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/chinas-march-factory-activity-growth-slowest-in-almost-a-year-private-survey-finds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China&#x27;s March factory activity growth slowest in almost a year, private survey finds - Fin2me\" \/>\n<meta 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