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HSBC China Services PMI
Services activity growth hits four-month high, but output falls at manufacturers. HSBC China Composite PMI™ data (which covers both manufacturing and services) signalled that business activity in China fell for the second month running in March. Though slight, the rate of contraction was still the sharpest since November 2011, with the HSBC Composite Output Index posting at 49.3 in March, down from 49.8 in February. Data for March signalled that the reduction in overall business activity was driven by the manufacturing sector, which posted its sharpest contraction of output since November 2011. Meanwhile, services ... (full story)