China Services PMI Slides To 52.32 In March - Caixin

China's Manufacturing Growth Slows to Four-Month Low

China's Manufacturing Growth Slows to Four-Month Low

The UK manufacturing sector has grown steadily during March, according to the latest figures.

"Although the pace of output expansion ticked higher in March, which is especially encouraging given the heavy snowfall during the month, this was offset by slower increases in new orders and employment".

The services sector, including finance, real estate, and retail, made up around 51.6% of China's output a year ago, leading analysts to view yesterday's data as a sign of the country's slowing economy.

The Markit/CIPS UK Manufacturing purchasing managers' index (PMI) showed a reading of 55.1 last month, slightly higher than the 55.0 in February.

This is consecutively for the eighth months that the PMI remained above the mark of 50-point.

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A reading below 50 signifies contraction and today's number is the worst outcome since July 2016, the month following the European Union referendum.

IHS Markit report their UK Construction PMI for March 2018 read at 47.0 down from 51.4 a month earlier, well below consensus forecasts from economists which anticipated a reading of 50.9.

Exports from the sector were helped by the weakness of pound and also strong demand from the rest of the world.

Dodhia noted that the impact of USA tariffs on steel and aluminium on India is expected to be limited, as India's exports in both metals to the United States accounted for less than 0.4 per cent of total merchandise exports.

"Manufacturers operating in consumption and intermediate market groups signalled no appetite for recruitment", Dodhia said. "Business sentiment remained weak in the context of historical data reflecting some concerns regarding business prospects over the next 12 months".

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