China CLSA March manufacturing PMI at 51.0 points vs 50.7 in Feb - CLSA
The CLSA purchasing managers' index (PMI) for China's manufacturing sector rose to an eight-month high of 51.0 in March from 50.7 in February
?BEIJING (AFX) - The CLSA purchasing managers' index (PMI) for China's manufacturing sector rose to an eight-month high of 51.0 in March from 50.7 in February after business conditions for the month showed a modest improvement.
CLSA said in a statement that its PMI composite indicator on the health of China's manufacturing sector rose for the fourth consecutive month, with exports again the key driver of growth.
A PMI reading below 50.0 indicates the manufacturing economy is shrinking while one above 50.0 suggests it is expanding.
'Economic activity is continuing, particularly in the consumer goods area, but the squeeze on corporate profitability is intensifying,' CLSA chief economist Jim Walker said in the statement.
'The manufacturing sector is worst hit here with input cost rising fast -- in the shape of raw materials -- and now being jointed by escalating labor costs, especially at the skilled end.'
CLSA said that manufacturing production, new orders and purchasing of inputs picked up in March.
March data on volumes of outstanding business and employment were broadly unchanged.
Stocks of purchases and finished goods fell, while supplier's delivery times lengthened slightly.
CLSA said in a statement that its PMI composite indicator on the health of China's manufacturing sector rose for the fourth consecutive month, with exports again the key driver of growth.
A PMI reading below 50.0 indicates the manufacturing economy is shrinking while one above 50.0 suggests it is expanding.
'Economic activity is continuing, particularly in the consumer goods area, but the squeeze on corporate profitability is intensifying,' CLSA chief economist Jim Walker said in the statement.
'The manufacturing sector is worst hit here with input cost rising fast -- in the shape of raw materials -- and now being jointed by escalating labor costs, especially at the skilled end.'
CLSA said that manufacturing production, new orders and purchasing of inputs picked up in March.
March data on volumes of outstanding business and employment were broadly unchanged.
Stocks of purchases and finished goods fell, while supplier's delivery times lengthened slightly.
