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Factory Activity Accelerates in China
Manufacturing activity in China grew at a faster pace in March than in the previous month, according to HSBC Holdings plc.
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Manufacturing activity in China grew at a faster pace in March than in the previous month, according to HSBC Holdings plc.
The London-based bank's preliminary purchasing managers index rose to 51.7 last month from 50.4 in February. A reading above 50 indicates expansion. March is the fifth straight month of growth after 12 months of contraction.
HSBC says accelerating growth in exports, production, purchasing and new orders fueled the expansion. The bank opines that China's economy remains on track for a gradual recovery.
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