China's Caixin services PMI drops unexpectedly in March
|China's Caixin services PMI for March came in at 52.3 vs 54.5 exp and 54.2 last, which indicated output growth easing across both manufacturing and service sectors.
Meanwhile, the Composite Output Index fell from 53.3 in February to 51.8 in March, to signal only a modest pace of expansion.” the report noted.
Quotes from Dr. Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group
“The Caixin China General Services Business Activity Index fell to 52.3 in March from 54.2 in February. Both new business and employment grew at a slower rate last month, pointing to cooling demand. However, the ability of service providers to make a profit improved as input costs increased at a weaker pace while output prices edged up. The sub-index gauging service companies’ expectations towards business activity over the next 12 months declined to the lowest reading since September, suggesting that weakening demand has affected firms’ confidence.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.