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CHINA: The Caixin services PMI index, which gauges the activities of China's
smaller services companies, has hit the highest level since February 2018.
Caixin, which independently publishes the data, said the index jumped to 54.4 in
March, up from 51.1 in February.
- The new orders sub-index accelerated to a 14-month high. Many companies
surveyed said improved demand and new product launches have led to a rebound in
new orders, according to Caixin.
- New export orders also accelerated to the second highest level since Dec 2017,
reflecting recovered external demand, Caixin said.
- The gains were in line with the official service PMI released last week, which
rose to 54.8 from 54.3 in Feb.