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Activity at China’s smaller, privately-owned factories expanded in March, after a weeks-long lockdown due to the coronavirus pandemic, data released on Wednesday showed.
The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) gave a reading of 50.1, up from 40.3 in February and well above analysts’ forecasts of 45. A figure above 50 signifies growth, while less than that represents a contraction. February’s figure was an all-time low.
The survey followed the official manufacturing PMI on Tuesday, which also overshot analysts’ expectations and returned to growth, at 52.0 . . .
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