China's manufacturing activity fell to a 11-month low in March as new orders dipped, a monthly survey published Tuesday showed, confirming continuing weakness in the world's second-largest economy.
Flash China Manufacturing PMI (purchasing managers' index) at 49.2 in March (50.7 in February) was at a 11-month low while the flash China Manufacturing Output Index at 50.8 in March (51.7 in February) was at a two-month low. Data collected 12–20 March 2015.
The HSBC Flash China Manufacturing PMI is published on a monthly basis ahead of final PMI data and the estimate is typically based on approximately 85%–90% of total PMI survey responses each month and is designed to provide an accurate indication of the final PMI data. March final PMI data will be released on 1 April 2015.
Annabel Fiddes, economist at Markit, said: "The HSBC Flash China Manufacturing PMI signalled a slight deterioration in the health of China’s manufacturing sector in March. A renewed fall in total new business contributed to a weaker expansion of output, while companies continued to trim their workforce numbers.
Meanwhile, manufacturing companies continued to benefit from falling input costs, stemming from the recent global oil price decline. However, relatively muted client demand has led firms to pass on savings in a bid to boost new work, and cut their selling prices at a similarly sharp rate.”