China's manufacturing rises as U.S., Japan and Europe fall

shipping containers in china
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Surveys showed global manufacturing, the lifeblood of many of the world's economies, was flat in March — the first time it has not fallen since April 2018.

"The steady result was achieved in no small part thanks to a better performance from China. China led a regional divide, with northeast Asia generally improving. While in contrast, Central Europe was notably weak, and North American manufacturing, at least based off the PMIs, was also losing some growth momentum, most especially in Canada and Mexico."
— Alan Ruskin, chief international strategist at Deutsche Bank, wrote in a note to clients.

Global manufacturing data is contracting

Factory activity in the eurozone contracted at the fastest pace in nearly six years.

The state of play: The bloc's aggregate PMI fell to 47.6 in March from 49.3, well below the 50 threshold that is the baseline for whether the sector is expanding or contracting. In Germany, Europe's largest economy, new orders fell to the lowest level in a decade. And, in France, both manufacturing and service sector PMIs are now in the red.