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Financial News: China Services PMI Slides To 52.32 In March

China Services PMI Slides To 52.32 In March - Caixin

04/03/2018 - 21:55:00 (RTTNews)

(RTTNews) - The service sector in China continued to expand in March, albeit at a slower pace, the latest survey from Caixin revealed on Wednesday with a services PMI score of 52.3.

That's down from 54.2 in February, and it missed expectations for 54.5 - although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, the latest reading pointed to a modest increase in services activity that was softer than the long-run trend. Growth in manufacturing output was also slightly weaker than that seen on average over the series' 14-year history.

Outstanding business increased slightly at services companies, following broadly stagnant backlogs over the opening two months of the year.

Also, the composite index sank to 51.8 from 53.3 in the previous month.

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