The HSBC Flash China Manufacturing Purchasing Managers’ Index™ (PMI™) is published on a monthly basis ahead of final PMI data, making the HSBC PMI the earliest available indicator of manufacturing sector operating conditions in China. 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 2014.
Key points:
-- Flash China Manufacturing PMI™ at 48.1 in March (48.5 in February). Eight-month low.
-- Flash China Manufacturing Output Index at 47.3 in March (48.8 in February). Eighteen-month low.
Commenting on the Flash China Manufacturing PMI survey, Hongbin Qu, Chief Economist, China & Co- Head of Asian Economic Research at HSBC said: “The HSBC Flash China Manufacturing PMI reading for March suggests that China’s growth momentum continued to slow down. Weakness is broadly-based with domestic demand softening further. We expect Beijing to launch a series of policy measures to stabilize growth. Likely options include lowering entry barriers for private investment, targeted spending on subways, air cleaning and public housing, and guiding lending rates lower.”
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