The Purchasing Managers Index China’s official non-manufacturing PMI for March has recovered to 56.3 points from 51.4 the previous month. This reading has come in above expectations of 52.6 points by a large margin.
About the PMI Non-Manufacturing Purchasing Managers Index
The official non-manufacturing PMI, published by the China Federation of Logistics and Purchasing (CFLP), is based on a survey of nearly 1,200 companies spanning 27 industries, including construction, transportation, and telecommunications. It is the level of a diffusion index based on the purchasing managers surveyed in the service industry. If it is above 50.0 it indicates expansion of the industry, below it indicates contraction.
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