- prior 54.2
Key findings from the report:
- Sharpest increases in activity, sales and employment since November 2020
- Business confidence remains historically strong
- Input price inflation picks up to seven-month high
Comment from the report:
- In March, the Caixin China General Composite PMI came in at 54.5, up 0.3 points from the previous month, maintaining an uptrend within expansionary territory.
- Production, demand and employment all grew, with the services sector showing a stronger expansion, whereas manufacturing activity turned comparatively sluggish.
- Input costs and prices charged remained stable, and businesses were highly optimistic.
- in March, the manufacturing and services sectors diverged, with services activity picking up at a faster pace, while manufacturing activity dragged, reflecting that the foundation for economic recovery is not yet solid.
Signs of recovery for China like this will be a tailwind for China stocks, AUD.