- Business activity rose at the slowest pace in three months.
- New orders from overseas rose at the most marked pace since June 2023,
- However, lackluster domestic demand led to a modest increase in overall new orders. Overall, new orders rose at a slower pace than in 2023.
- Despite the increase in new orders from overseas, business confidence weakened.
- Firms reduced staff numbers for the first time since November 2023.
- However, input prices increased, leading to an uptick in selling prices.
The figures were significant, with the National People’s Congress opening on Tuesday morning. Despite the better-than-expected Caixin Manufacturing PMI numbers, the service sector PMI raises questions about domestic demand. Importantly, weaker domestic demand warrants further measures to support…
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