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China’s manufacturing activity back to growth for first time since last December – Caixin survey

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China’s manufacturing sector is unexpectedly back into the expansionary territory  for the first time since December last year, in a further sign that government stimulus measures may be slowly taking hold.

The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) expanded in March after a three-month contraction. The gauge picked up to 50.8, the strongest pace in eight months, compared to 49.9 in February.

A reading below 50 signals contraction, while a reading above that level indicates . . .

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