China’s Mar manufacturing PMI falls into contraction
For March, China’s Purchasing Managers’ Index (PMI) for the domestic manufacturing industry slid into the contraction zone after staying in expansion for four months, down by 0.7 basis point on month to 49.5, with sub-indices for both production and new orders being in contraction, according to the latest release by the country’s National Bureau of Statistics (NBS) on March 31.
China’s March steel PMI dips 2nd month to 44.3
China’s Purchasing Managers’ Index (PMI) for the domestic steel industry decreased for the second month in March, slipping another 3 basis points on month to 44.3, according to the latest release by the official index compiler – CFLP Steel Logistics Professional Committee (CSLPC) – on March 31.
China needs reasonable growth and stable capital market
The work meeting among the members of the Financial Stability and Development Committee of the State Council of China on March 16 emphasized the significance for the country to maintain a reasonable economic growth and stable capital market under the complex circumstances at present, according to a post by the Chinese government on its official website.
On March 5, China released its series of development targets for 2022 including the Gross Domestic Product (GDP) growth at about 5.5% on year, and all these have clearly confirmed the pressure that the world’s second largest economy expects to feel in softening demand, increasing supply and weakening market sentiment, as Beijing has reminded ever since the start of this year.
Source from mysteel.net