China’s economy is possibly recovering, according to just released data announcing that a majority of professional buyers are optimistic about the coming period. Producer prices have therefore begun rising at a higher pace in the manufacturing sector, however not in the textile industry.
China’s economy is offering positive signs these days, including a slight rebound of producer prices.
The most significant data have been published through the PMI (Purchasing Manager Index) indicating that a majority of respondents in the manufacturing sector now have positive anticipations.
The PMI has therefore rebounded to 50.50, or its best result since last September.
Exports have also sharply recovered in March, rising 14.2% from a year earlier in dollar terms, after a fall of 20.8% in February, partly due to changing dates of lunar year holidays.
The Chinese government has launched a program for revamping its slowing down economy, including a sharp rise in public spending and financial incentives to boost lending.
Producer prices have therefore been stronger, rising 0.4% from a year earlier in March, from an annual rise of 0.1% only in February.
Prices of the manufacturing sector have been up 0.3% in March, from a fall of 0.1% in February.
Prices at textile plants have further slowed down however, rising only 1.2% from 1.4% in the previous month.
This lower pace probably reflects a lack of activity in the textile sector, confronted with falling demand from European clothing buyers, and a lower growth of apparel retail sales in China.
Consumer prices have more significantly risen in March, however mostly due to a sharp increase of food prices.
Source: Emergingtextiles
