New Delhi, London: Factories across much of Asia and Eruope got off to a solid start in the second quarter, buoyed by strong global demand, particularly for hi-tech gadgets which are leading a sizzling rally in electronics.

Though China’s manufacturing growth eased more than expected in April, business still improved and there were no hints of a sharp loss of momentum despite risks from a growing regulatory crackdown and fresh measures to cool its heated housing market.

Indeed, analysts chalked up much of the softening in China to recent falls in commodities prices, noting its official factory activity gauge at the weekend was still not far from a near five-year high.

British factories had their best month in three years in April, the clearest sign yet that manufacturers are enjoying at least a temporary boost from the pound’s fall after the Brexit vote and an improving global economy.

IHS Markit’s Manufacturing Purchasing Managers’ Index for the Eurozone jumped to 56.7 in April from March’s 56.2, reaching its highest level since April 2011. The figure was one tick down from a preliminary reading of 56.8.

Manufacturing growth in Germany, France and Italy, the bloc’s three biggest economies, was up near a six-year high, earlier data showed. Spanish activity accelerated.

“We expect global growth to pick up in the second quarter,” said Krystal Tan, Asia economist at Capital Economics in Singapore.

“Firmer global growth will lend strength to the ongoing recovery in Asian manufacturing.”

After six years of disappointing growth, the world economy is gaining momentum, fuelled by a cyclical recovery in manufacturing and buoyant financial markets.

China’s official Purchasing Managers’ Index (PMI) released at the weekend fell to a six-month low of 51.2 in April from 51.8 in March, but pointed to expansion in the factory sector for the ninth straight month.

The China Caixin/Markit PMI on Tuesday (PMI) fell to 50.3 from March’s 51.2. The Caixin survey focuses more on small and mid-sized firms, which have been under more stress than their larger, state-owned peers.

Economists largely attributed the softening in both surveys to weaker prices for iron ore and other industrial commodities and to signs of moderation in China’s housing market after a flurry of steps to curb speculation.

China, Japan, South Korea, Taiwan and Singapore have all reported stronger shipments in recent months, often led by electronics. South Korea on Monday reported April exports rose 24.2 per cent on-year, the fastest since August 2011.

Global stock market investors are also cashing in on the so-called electronics “super-cycle”.

Samsung Electronics gained as much as 2 per cent on Tuesday, helping to lift the country’s Kospi index to within reach of its all-time high marked in 2011.

Taiwan Semiconductor Manufacturing Co (TSMC) hit a record high, rising as much as 2.3 per cent.

In other parts of Asia, manufacturing activity hit a 10-month high in Indonesia and expanded for the first time in two years in Malaysia.

In India, the activity expanded for a fourth consecutive month in April, helped by stronger growth in new orders.

Japan’s manufacturing also expanded at a stronger pace last month, according to a revised survey on Monday.