The manufacturing sector in China slowed to stagnation in March, the latest survey from Caixin revealed on Monday with a manufacturing PMI score of 50.0.
That's down from 51.6 in February, and it lands right on the line that separates expansion from contraction.
A softer rise in manufacturing production was one key factor dampening the headline PMI figure. Growth of output was marginal overall, after rising solidly in the previous month. According to anecdotal evidence, production rose in line with client demand.
Total new orders likewise increased at a softer pace that was only slight. While a number of firms mentioned customer demand and numbers had improved amid the recent easing of pandemic measures, others experienced relatively sluggish sales, particularly from overseas. Notably, new export business fell back into decline in March, though the rate of contraction was mild overall.
