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3 Apr 2015
China HSBC Services PMI improves in March
FXStreet (Bali) - China HSBC Services PMI rose from previous 52 to 52.3 in March, however, the Chinese service sector activity growth remained modest overall, and well below the long-run trend, notes the official report.
Quotes from Annabel Fiddes, Economist at Markit
“Chinese manufacturers and service providers both managed only modest increases in output at the end of the first quarter. Data suggests that relatively weak client demand had dampened growth across both sectors, with new orders expanding at the slowest rate in eight months at service providers while falling at manufacturers."
"As a result, service sector companies took a more cautious approach to hiring, raising their staff numbers only slightly over the month, while job shedding accelerated across the manufacturing sector. Meanwhile, deflationary pressures appeared to ease slightly in March, with composite input and output prices both declining at slower rates.”
Quotes from Annabel Fiddes, Economist at Markit
“Chinese manufacturers and service providers both managed only modest increases in output at the end of the first quarter. Data suggests that relatively weak client demand had dampened growth across both sectors, with new orders expanding at the slowest rate in eight months at service providers while falling at manufacturers."
"As a result, service sector companies took a more cautious approach to hiring, raising their staff numbers only slightly over the month, while job shedding accelerated across the manufacturing sector. Meanwhile, deflationary pressures appeared to ease slightly in March, with composite input and output prices both declining at slower rates.”