China: manufacturing PMI contracted in March

China’s Caixin-S&P Global manufacturing PMI fell in March in the contraction phase, to 49.5 points, compared to 50.3 points expected by the economists’ consensus and 50 points in February.

The Chinese manufacturing PMI is back in the contraction phase, as it is below 50 points, the dividing line between the expansion phase (values ​​above 50 points) and contraction phase (below 50 points).

It is the first time in three months that China’s manufacturing PMI has returned to contraction.