SLOWING GLOBAL DEMAND, HIGH-INTEREST RATES STILL CHALLENGES
CHINA'S FACTORY SECTOR grew in February at the fastest pace in more than a decade, a standout in Asia where manufacturing growth stalled elsewhere, while in the Euro Zone output expanded for the first time since May, surveys showed on Wednesday.
Slowing global demand coupled with high inflation and interest rates have hit manufacturers, but stronger signs that Chinese factories are rebounding after the removal of strict Covid-19 curbs could, as supply chains also recover, temper an expected downturn in the global economy.
China's official manufacturing purchasing managers' index (PMI) climbed to 52.6 last month against 50.1 in January while a private sector survey also showed activity rising for the first time in seven months.
"China's PMIs beat market expectations across the board, propelled by the reopening after dropping Covid restrictions and the resumption of activity after the lunar new year holiday," said Duncan Wrigley at Pantheon Macroeconomics.
"This is an encouraging set of data, but still is only one month, and challenges remain."
Bu hikaye Financial Express Mumbai dergisinin March 02, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin March 02, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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