China: Caixin services PMI upbeat in March
Chinese data continues to improve, with today's Caixin services PMI
coming at 52.2 vs 51.2 last, while China's services PMI composite was
51.3 vs prior 49.4.
Commenting on the China General Services PMI™
data, Dr. He Fan, Chief Economist at Caixin Insight Group said: “The
headline Caixin China General Services PMI for March came in at 52.2, up
1.0 point from February's figure, but the employment category fell
below the neutral 50-point level for the first time since August 2013."
Fan
also said: "The Caixin Composite Output Index for March rebounded over
the 50-point mark, at 51.3, as economic conditions continued to
fluctuate."
"Overall, the services sector developed well, but the
economy is riding choppy waves, indicating the lack of a solid
foundation for a recovery. The government needs to push forward with
"supplyside reform" to encourage the development of emerging industries”
Fan added.
(Market News Provided by FXstreet)
