- Overall, new orders increased at the fastest pace in four months, signaling improved domestic demand.
- However, overseas new orders continued to decline, albeit at a lesser pace.
- Manufacturing production accelerated because of the increase in new orders.
- Firms were more optimistic about the future outlook, with optimism levels at their highest in five months.
- Despite the optimism, employment levels fell at the fastest pace in almost 18 months, with manufacturers remaining cautious about costs.
- Average input costs increased for the first time in three months due to higher prices for materials.
- Selling prices advanced for the first time since June.
The manufacturing sector data comes before next week’s highly anticipated National People’s Congress Standing Committee (NPCSC) meeting. Markets expect new stimulus measures targeting consumption to boost the Chinese economy.
