"China's Manufacturing Sector Sees First Expansion in Six Months"

China's official purchasing managers' index (PMI) rose to 50.8 in March from 49.1 in February, marking the first expansion in manufacturing activity in six months, with new export orders breaking an 11-month slump. Despite the modest pace of growth, recent upbeat indicators suggest the economy is slowly recovering, leading analysts to upgrade their growth forecasts for the year. However, a deep slump in the property sector remains a major drag on growth, prompting concerns about the need for more stimulus to achieve the ambitious 2024 economic growth target of around 5%.