China’s manufacturing surge picks up moderately in March

China’s manufacturing surge picks up moderately in March

In March, surge in China's manufacturing sector managed to pick up a bit because the Chinese government had winter industrial pollution limits lifted and steel mills increased their output as construction activity shifts back into higher gear.

In March, the official manufacturing Purchasing Managers' Index is anticipated to have ascended to 50.5 versus February's 50.3, as follows from a median estimate of 29 market experts in a Reuters survey. In this poll contraction is divided from expansion by with the 50-mark.

It would point out to the 20th straight month of expansion for the country’s versatile manufacturing sector. It will also back consensus views that the world's number two economy will face just a moderate slowdown in surge in 2018.

Confounding hopes for a winter lull, the country’s steel companies kept increasing output during the first quarter, thus responding to firm sales, and also spurred borrowing, hiring and capital expenditures, as follows from a poll from the China Beige Book uncovered on Wednesday.

However, in recent trading sessions steel prices have gone down because inventories leapt to multi-year maximums.

Overall, this year China's economic data suggests that the Chinese economy has managed to carry firm surge momentum into the first quarter from 2017, with a government think tank predicting the country’s economy is going to surge 6.9% during the first half.

However, many market experts are assured that the country’s tempo will slow later in 2018, mainly suppressed by soaring borrowing costs and a cooling property markets.

An abrupt escalation in trade tensions with America has also affected the outlook and might have started dampening exporters' confidence.

Market experts hope next week’s private poll on China's factory activity will demonstrate a similar ascending trend as in the official poll, after surge in February ended up with a six-month maximum.

Similar

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera