China: Manufacturing ticks up in March
April 1, 2014
The Purchasing Managers Index (PMI) inched up from 50.2 points in February to 50.3 points in March according to the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP), which publish the index. March's print slightly overshot the 50.1 points that market analysts had expected. The PMI continues to rest just above the 50-point threshold that separates expansion from contraction in the manufacturing sector. March's figure reflected a broad-based improved with all but one of the five sub-categories recording higher readings compared to the previous month. Both inventories and employment registered the largest increases, whereas the suppliers' delivery time category saw a decline. Exports orders jumped into positive territory in March, while input prices-a reliable leading indicator for consumer prices-dipped to the lowest level since April 2013.