FX.co ★ China Services Sector Growth Hits 3-Month High

In March 2025, China's official NBS Non-Manufacturing PMI increased to 50.8 from February's 50.4, the highest in three months and surpassing market forecasts of 50.5. The new orders index saw an uptick to 46.6%, a rise of 0.5 percentage points compared to the previous month, indicating a resurgence in demand within the non-manufacturing sector. The input price index inched up to 48.6%, a 0.2-point increase, suggesting a more gradual decline in operating expenses for non-manufacturing firms. Conversely, the sales price index decreased to 46.7%, down by 1.1 points, pointing to a continued drop in overall sales prices. The employment index fell to 45.8%, a decrease of 0.7 points, indicating weaker hiring sentiment within the sector. On a positive note, the business activity expectations index increased to 57.2%, a gain of 0.6 points, reflecting heightened confidence among non-manufacturing enterprises concerning future market conditions.