China's Manufacturing Activity Expands At Slower Pace

(RTTNews) - China's manufacturing activity expanded at a slower pace in March, survey results from IHS Markit showed Saturday.

The Caixin factory Purchasing Managers' Index fell to 51.2 from 51.7 in February. Nonetheless, a reading above 50 indicates expansion in the sector.

Although pointing to only a moderate rate of improvement, the latest index reading remained amongst the highest seen over the past four years.

Data showed that growth in production and new orders slowed since February. Meanwhile, staffing levels continued on a downward trend.

Optimism towards the one-year business outlook slipped from February's recent peak, but remained strong overall.

"Overall, the Chinese manufacturing economy continued to improve, but signs of a weakening have started to emerge ahead of the second quarter. Downward pressure may further increase," Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group, said.