China Caixin/Markit Manufacturing PMI for March at its lowest for nearly a year at 50.6
expected 51.4, prior 50.9
Sharp increase in input costs, up at their fastest in 40 months
- "We should pay attention to inflation in future as the gauges for input and output prices have been rising for several months," said Wang Zhe, Senior Economist at Caixin Insight Group, in a statement accompanying the data release. "The growing inflationary pressure limits the room for future policies and is not a good thing for sustaining an economic recovery in the post-epidemic period."
Manufacturers lowered their staffing levels
- the fourth straight month
- rate of reduction was marginal
March official PMIs were released already: China March PMIs: Manufacturing 51.9 (expected 51.2) & Services 56.3 (expected 52.0)
The official PMIs largely focuses on big and state-owned firms. The Caixin / Markit PMIs have a greater representation of firms smaller than the big and SOEs.