In March 2025, China’s Non-Manufacturing PMI increased to 50.8, marking a three-month high. New orders rose to 46.6%, while the input price index improved slightly. However, the employment index fell to 45.8%, and sales prices continued to decline. The business activity expectations index suggests growing confidence in the sector.

In March 2025, China’s official Non-Manufacturing Purchasing Managers’ Index (PMI) rose to 50.8, an increase from February’s 50.4. This reading marks the highest in three months and surpasses market predictions of 50.5, indicating robust growth in the services sector.

The index for new orders showed a noteworthy improvement, climbing to 46.6%, a rise of 0.5 percentage points from the prior month. This increase suggests a revitalization of demand within the non-manufacturing sector, positively influencing overall economic activity.

Meanwhile, the input price index recorded a slight increase, reaching 48.6% with a rise of 0.2 points. This change points to a decelerated decline in operational costs for non-manufacturing firms, while the sales price index fell to 46.7%, down 1.1 points, indicating a continuing drop in sales prices across the sector.

Additionally, the employment index fell to 45.8%, down 0.7 points, reflecting a decrease in recruitment sentiment among firms within the non-manufacturing sector. In contrast, the business activity expectations index improved to 57.2%, increasing by 0.6 points, signaling a rise in confidence among non-manufacturing enterprises about future market conditions.

The recent rise in China’s Non-Manufacturing PMI signals positive growth in the services sector, with increased demand and improving business confidence. However, challenges remain regarding employment and decreasing sales prices. Overall, the data reflects a more favorable outlook for the non-manufacturing sector, highlighting the importance of monitoring these developments moving forward.

Original Source: www.tradingview.com

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