- China will release official manufacturing PMI data for March on 1 April.
- Standard Chartered (SC) Research noted that it expects the index to have inched up marginally to 50.0 from 49.9 in February as factories reopened and businesses re-started operations after the Lunar New Year holiday.
- However, production and sales likely remained weak amid China’s current slowdown, especially compared with previous years.
- SC added that “we expect inventory destocking in the manufacturing sector to have continued, and still-high interest rates to have constrained manufacturers’ investment. We therefore expect the central bank to loosen policy further in the near term to boost growth and confidence. “
The material has been provided by InstaForex Company – www.instaforex.com