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1 Apr 2013
China HSBC at 51.6, meets expectations
FXstreet.com (Barcelona) - The HSBC Purchasing Managers’ Index came at 51.6 in March, in line with expectations of 51.6, and up from 50.4 in February, signalling "a modest improvement as operating conditions in the Chinese manufacturing sector improve for five consecutive months" HSBC said in a released statement.
Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “China's recovery continues, mainly driven by the gradually improving domestic demand conditions. The decline in input prices suggests a modest pace of demand recovery and moderating inflationary pressures. This, plus the lingering external headwinds, implies the Beijing policy makers should keep a relative accommodative policy stance in place.”
Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “China's recovery continues, mainly driven by the gradually improving domestic demand conditions. The decline in input prices suggests a modest pace of demand recovery and moderating inflationary pressures. This, plus the lingering external headwinds, implies the Beijing policy makers should keep a relative accommodative policy stance in place.”