The Financial Times reports on China’s upswing in manufacturing output:
Chinese manufacturing activity expanded at a record pace in the first quarter of this year in another sign of the country’s strong recovery on the back of rebounding external demand and stronger private consumption.
While manufacturers in China upped their activity, some Asian countries, including India, South Korea and Australia, saw declines from recent highs.
According to the HSBC/Markit Economics survey released on Thursday, Chinese manufacturing activity – which includes measures such as output and new hires – in the first three months of this year was the fastest since the series began in 2004.
Lu Ting, China economist at Bank of America Merrill Lynch, said manufacturers would continue to expand activity even as government stimulus measures wane.
