After two straight months of shrinking, China’s main factory indicator jumped to growth mode in March. It's the strongest expansion in a full year. The numbers came out Tuesday from the government stats folks in Beijing, and they show things turning around quicker than most people expected.
The official manufacturing indicator climbed to 50.4 last month. Anything above 50 means the sector is expanding, and this leap from February's weak reading marks a sharp rebound. Factories cranked up production, new orders poured in from both home and overseas, and export business got a nice lift.
It feels like a breath of fresh air after a stretch where demand had been dragging. China pumps out everything from smartphones and toys to car parts that end up in stores worldwide. When its factories hum along, it can mean steadier jobs for millions of workers there and steadier supplies and prices for the rest of us. This surprise pickup could even give a little boost to global trade at a time when a lot of economies are still feeling bumpy.
It’s surprising because just last month everything looked pretty shaky, with worries about weak demand hanging over the place. It reminds you how fast big shifts can happen when orders start flowing again.
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