Chinese factory activity accelerated in March, official data showed Friday, a sign of stability in the world's second largest economy.

The official purchasing managers' index (PMI), which gauges conditions at factories and mines, came in at 51.8 in March, the National Bureau of Statistics (NBS) said, slightly beating the 51.7 forecast in a Bloomberg News survey and up from the previous month's 51.6.

A figure above 50 indicates growth while anything below points to contraction.

"The manufacturing sector continued to maintain a steady trend," NBS analyst Zhao Qinghe said in a note, adding that a pickup both in production and in demand drove the results.

"High-tech manufacturing continued rapid expansion, and part of traditional industry production and management conditions continue to improve."

The figures come days before a meeting between US President Donald Trump and Chinese President Xi Jinping at Mar-a-Lago, Florida, when trade and economic issues are expected to dominate the conversation.

On Thursday, Trump predicted on Twitter the meeting would be "very difficult", adding: "We can no longer have massive trade deficits... and job losses. American companies must be prepared to look at other alternatives."

Tweet

Labour drought in Europe's east as workers go west
Budapest (AFP) March 19, 2017
A decade ago, business was booming for Hungarian construction firm owner Geza Borgulya. He was making an annual profit of some five million euros ($5.4 million) and had around 60 staff including surveyors and bricklayers. Now, the 44-year-old has barely a dozen employees left. "I'm glad if I make a million in earnings," he told AFP in the central town of Rackeve. Borgulya largely ... read more

Related Links
Global Trade News

Thanks for being here; We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor $5 Billed Once credit card or paypal		SpaceMediaNetwork Monthly Supporter $5 Billed Monthly paypal only