China Manufacturing Rebounds in March, Signaling Economic Recovery Gaining Steam

China’s factory activity expanded in March, hitting a 1-year high and signaling the economic recovery is gaining momentum
The official manufacturing PMI rose to 50.8 in March from 49.1 in February, ending 5 straight months of contraction
Other economic indicators like industrial output and retail sales also beat forecasts in the first 2 months of 2023
Chinese leadership seeks to boost confidence in the economy, though issues like property crisis and debt persist
Non-manufacturing PMI and composite PMI also rose in March, pointing to accelerated growth of production and business activity