March data signals sharpest fall of output since November 2011. Business conditions in China’s manufacturing sector deteriorated for the third consecutive month in March. The latest deterioration was the strongest since July 2013, and reflected quicker reductions of both output and total new orders, despite new business from abroad expanding for the first time in four months. Firms cut their workforce numbers and purchasing activity, while both input and output prices fell to the greatest extent since August 2012. After adjusting for seasonal factors, following the recent Chinese New Year festival, the HSBC ... (full story)