CHINA MANUFACTURING SECTOR CONTINUING A MODEST IMPROVEMENT

HONG KONG - After adjusting for seasonal factors, the HSBC Purchasing Managers’ Index™ for China – a composite indicator designed to provide a single-figure snapshot of operating conditions in the manufacturing economy – posted 51.6 in March, up from 50.4 in February, signalling a modest improvement. Operating conditions in the Chinese manufacturing sector have now improved for five consecutive months. Production levels increased for the fifth month in a row in March, with the rate of expansion accelerating from February to a solid pace, the second-fastest in two years.