FX.co ★ China Composite PMI Rises to 4-Month High

The Caixin China General Composite PMI climbed to 51.8 in March 2025 from 51.5 in February, reaching its highest point since last November. This marked the 17th consecutive month of growth in private sector activity, propelled by the most robust expansion in manufacturing output in four months, alongside a three-month high in service sector growth. The surge in activity was supported by an increase in inflows of new business, including a notable rise in export orders. Work backlogs also increased for the second consecutive month. However, employment levels fell, primarily due to job reductions in the service sector. On the pricing aspect, there was a decline in average charges for the fourth month in a row, as input costs decreased at their fastest rate in nearly five years, though the decline was slight. Lastly, business confidence remained optimistic, with sentiment above the 2024 average, even though there was a slight dip from February's levels.