Posted 3/31/2024, 6:40:43 AM
China Manufacturing Rebounds But Property Crisis and Stimulus Needs Temper Growth Outlook
- China's manufacturing PMI rose to 50.8 in March, indicating expansion for the first time in 6 months
- New export orders also returned to growth, breaking an 11-month slump
- Recent data suggests the economy is slowly recovering, leading analysts to upgrade 2023 growth forecasts
- However, the property sector crisis remains a major drag, testing local governments and banks
- Premier Li set an ambitious 5% 2024 GDP growth target, but more stimulus is needed to achieve it
