The official non-manufacturing PMI released by China Federation of Logistics and Purchasing (CFLP) came in at 56.3 vs 51.4 in Feb
This left the China March official composite PMI at 55.3.
There has been no reaction to the data in the market.
Description non-manufacturing PMI,
The official non-manufacturing PMI, released by China Federation of Logistics and Purchasing (CFLP), is based on a survey of about 1,200 companies covering 27 industries including construction, transport and telecommunications. It’s the level of a diffusion index based on surveyed purchasing managers in the services industry and if it’s above 50.0 indicates industry expansion, below indicates contraction.
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