The Purchasing Managers Index China’s official manufacturing PMI for March has risen to 51.9 points from 50.6 in the previous month. This reading has come above expectations of 51.2 points.
About the PMI Manufacturing Purchasing Managers Index
The Manufacturing Purchasing Managers Index (PMI) is published by the China Federation of Logistics and Purchasing (CFLP). Study the conditions in the Chinese manufacturing sector. A reading above 50 means expansion, while below this figure implies economic contraction. Since the Chinese economy has global influence, this indicator is likely to move the forex market.
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