China Services PMI Jumps To 54.3 In March – Caixin

China Services PMI Jumps To 54.3 In March – Caixin

The services sector in China continued to expand in March, and at a faster pace, the latest survey from Caixin showed on Tuesday with a PMI score of 54.3.

That’s up from 51.5 in February, and it moves further above the boom-or-but line of 50 that separates expansion from contraction.

Individually, business activity and sales both rose at quicker rates, while employment returned to growth. Business confidence hit its highest mark in more than a decade amid hopes for a post-pandemic recovery.

In order to alleviate pressure on margins, prices charged by services companies in China rose again at the end of the first quarter. The rate of inflation was the quickest seen in the year to date and solid.

Also, the composite index climbed from 51.7 in February at 53.1 in March.