China Einkaufsmanagerindex Composite

The Caixin China General Composite PMI was at 52.7 in March 2023, up from 52.5 in the prior two months. It was the highest reading since May 2023, pointing to the fifth straight month of growth in private sector activity, as manufacturing output and services activity expanded at quicker rates. New order growth picked up, lifted by the strongest rise in export orders in 13 months. Meanwhile, employment fell marginally for the second straight month. Turning to prices, input costs eased amid the first fall in manufacturing input prices for eight months and slower service cost increases. Finally, sentiment improved, on heightened optimism among manufacturers and service providers. “A slew of policies introduced earlier this year to stabilize growth is gradually having an effect," said Dr. Wang Zhe, senior economist at Caixin Insight Group. "... consistent efforts should be made to accelerate growth while improving the quality and efficiency of economic development.”