The new reading on China’s PMI was released, here the spotlights of the report:
Operating conditions deteriorate slightly in March Key points
- Flash China Manufacturing PMI™ at 49.2 in March (50.7 in February). 11-month low.
- Flash China Manufacturing Output Index at 50.8 in March (51.7 in February). Two-month low.
“The HSBC Flash China Manufacturing PMI signalled a slight deterioration in the health of China’s manufacturing sector in March. A renewed fall in total new business contributed to a weaker expansion of output, while companies continued to trim their workforce numbers. Meanwhile, manufacturing companies continued to benefit from falling input costs, stemming from the recent global oil price decline. However, relatively muted client demand has led firms to pass on savings in a bid to boost new work, and cut their selling prices at a similarly sharp rate”.
