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Investing.com-- Chinese manufacturing activity grew more than expected in March, purchasing managers index data showed on Monday, as recent stimulus measures from Beijing helped support local businesses.
Manufacturing PMI grew 50.5 in March, compared to expectations of 50.4, while also picking up slightly from 50.2 in the prior month, government data showed.
The reading came after Beijing outlined even more stimulus measures to help shore up growth, particularly measures aimed at shoring up private consumption.
This was more apparent with non-manufacturing PMI data, which grew 50.8 in March, more than expectations of 50.5 and accelerating from the 50.4 seen in the prior month.
This saw the Chinese composite PMI rise to 51.4 in March from 51.1 in February.
Monday’s positive reading comes after Beijing unveiled its most aggressive stimulus measures seen yet through late-2024. Increased business activity revolving around China’s artificial intelligence efforts also helped.
Beijing’s stimulus measures- which will entail much more fiscal spending on the economy- also come as the country braces for a potential trade war with the U.S., after President Donald Trump imposed a 20% tariff earlier this month and flagged plans for more measures.