China’s March services activity accelerates to 14-month maximum in a further sign of recovery

China’s March services activity accelerates to 14-month maximum in a further sign of recovery

In March, activity in China's services sector rallied to a 14-month maximum because demand improved abroad and at home, a private business poll revealed on Wednesday, thus contributing to signs that government stimulus measures are gradually coming into effect.

However, experts cautioned that it’s too early to ascertain if the Chinese economy has turned the corner, with numerous companies cautious on whether there’ll be much improvement in 2019 or not.

Eventually, the Caixin/Markit services purchasing managers' index ascended to 54.4 that appears to be the highest value since January 2018 and also up from February's reading of 51.1. By the way, the 50-mark that separates contraction from ascend.

Survey respondents told that activity was being backed by firmer demand, fresh state policies as well as improved access to financing.

The findings turned out to be mostly in line with those of an official indicator on the non-manufacturing sector published on Sunday that revealed services activity tacked on in March because new orders rallied more rapidly. In particular, construction demonstrated strength, probably reflecting government attempts to fast-track more infrastructure projects to back domestic demand.

Additionally, both official as well as private manufacturing polls suddenly got back to surge in March, driving expectations that China's downturn might be bottoming out.

The private services poll revealed that total orders headed north to 14-month maximum, with solid surge in export sales for the country’s service providers.

However, surge in operating costs kept outpacing prices charged by services businesses, gauging constant pressure on their revenue margin.

Eventually, business confidence tacked on, although stayed weaker than longer-term trends. 18% of respondents hoped business activity would be higher in a year.

Similar

Latest news

Evergreen buck heads north

On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera