Manufacturing PMI China
Event Date: Friday, March 31, 2023
Event Time: 02:30 CET
Manufacturing Expected to Slow in March
Updated Sunday, March 26, 2023
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The manufacturing sector has been slowing in China last year as the rest of the global economy weakened. In December, this sector of the Chinese economy fell into contraction since the PMI indicator fell below the 50 level, as the report released in January showed. It weakened further in January, with the Chinese Manufacturing PMI indicator falling to 49.5 points. We saw a decent jump in February to 52.6 points but March is expected to show a slowdown in activity to 51.9 points.
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About Manufacturing PMI China
Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry. It is released monthly, usually on the first business day after the month ends. It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy. The survey of about 430 purchasing managers asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories
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