China: Caixin PMI also disappointed - TDS

Research Team at TDS, suggests that following the official PMI disappointing on Sunday, today’s Caixin PMI also disappointed, falling from 49.7 to 49.4, below 49.8 Bloomberg expectations.

Key Quotes

“That said, it’s hard to be too negative, given that the numbers for March were probably boosted by factory and businesses re-opening after Chinese New Year. The PMI data does reveal though that price pressures are heating up, now at the highest levels in 3 years, suggesting deflation fears are overdone.”