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CHINESE GROWTH PICKS UP IN MARCH

The Flash PMI, an early reading on Chinease PMI came in at 52.5 in the first three weeks of March.  That was up from 51.7 last month.  This is down from prior readings, but should alleviate some recent fears about a China slow-down (via HSBC):

Commenting on the Flash China Manufacturing PMI survey, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said:

“Growth of the manufacturing sector bounced back a little this month after slowing in February. This should reduce concerns about a sharp slowdown in growth. Meanwhile, the increase in both input and output prices sub indices started to slow, implying Beijing’s policy tightening is working to contain inflationary pressures without choking off growth. We expect Beijing to keep tightening in the coming months. Combined with supply-side cooling measures, this should slow inflation meaningfully by the middle of the year.”

Source: HSBC

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