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China / unexpected rebound performance-official manufacturing PMI in March



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Beijing, May 31 (Reuters) – China's main economic indicators released since the beginning of the month:

* PMI OFFICIAL PRODUCT above expectations in March

March 31 – The growth of Chinese manufacturing rebounded unexpectedly in March, for the first time in four months, indicating that support the activities of the measures announced by Beijing in recent months may begin to bear fruit.

The official manufacturing PMI rose to 50.5 in March, slightly above the threshold between contraction and expansion of activity, according to results published Sunday polls conducted by the Chinese government with the principles of the store.

Analysts polled by Reuters The, predicted figure of 49.5, up slightly from February.

For the services sector, which accounts for over half of the Chinese economy, the official PMI rebounded in March to $ 54.8 against 54.3 in the previous month.

The composite index, which includes both services and industry, was 54 in March from 52.4 in February.

* Real prices of 0.5% in February

March 15 – Rising prices for new property in China back in February to the lowest pace for ten months, official statistics show released Friday, in the latest sign of deteriorating demand slowdown in the lower part of the economy.

Average prices recorded in 70 major cities rose 0.5% last month after rising 0.6% in January, according to the National Bureau of Statistics. This is the lowest recorded since April 2018, according to Reuters calculations.

On an annual basis, new home prices in February increased by 10.4%, while their growth in one year was maintained at 10.0% in January.

Analysts believe that the real estate price trends remained relatively healthy and that the recession has not yet reached the level, despite the alarming downward pressure on demand.

* Strong Slowdown in production 17 YEARS

March 14 – China's industrial production recorded in the first two months of this year, the lowest growth in the last 17 years, indicating that the slowdown in China's economic growth will continue, despite a number of support measures taken since last year in government.

According to the National Bureau of Statistics (NBS), industrial production grew by 5.3% in annual terms in January-February, it is at its weakest pace since the beginning of 2002.

Economists polled by Reuters least deceleration (+ 5.5%) after an increase of 5.7% in December.

DEVELOPMENT:

* TERMS OF RECESSION CREDIT In February

March 11 – Chinese banks handed out 885.8 billion yuan (117.3 billion euros) in new loans in February index sharply lower than the record 3.23 trillion reached in January, according to the People's Bank of China.

This decrease is probably due to seasonal factors, the Chinese banks have traditionally been generous in their loans at the beginning of this year to gain market share.

Even down sharply compared with the previous month, the total is higher than in February by 5.5% more than in February 2018, when it was granted 839.3 billion yuan of new loans.

Economists polled by Reuters The, had on average forecast a total of 975 billion yuan. Outstanding loans increased by 13.4% compared to February 2018, a figure in line with expectations and unchanged from January.

The growth of the money supply M2 amounted to 8.0% yoy in February as in January, while economists had expected growth of 8.4%.

This "total social financing» (TSF), the broadest measure used in China for monitoring credit and liquidity in the economy, slowed to 10.1% in February after + 10.4% in January. It registered a record low of 9.8% in December.

* PRICE OF 0.1% In February, ONE YEAR

March 9 – The producer price index (PPI) grew by only 0.1% year on year in February, official statistics show released on Saturday at the same annual rate as in January, while economists polled by Reuters on average increase 0.2%.

Within a month to month, producer prices dropped by 0.1% after a 0.6% drop in January. This is the fourth consecutive month of decline in a month. At the same time, raw material prices fell 1.5% last month year on year.

The long decline in producer prices, reflecting the sluggishness of domestic demand in China will contribute to a further deterioration in the profitability of many industrial companies, whose profits declined in recent months, with a negative impact on investment, consumption and employment.

The consumer price index (the CPI) rose by 1.5% year on year in February for the year, less than one year increased in January (+ 1.7%), and the weakest pace since January 2018. This slowdown is expected, however; it corresponds to a consensus.

From month to month, the CPI increased by 1.0%.

developed

Table PPI

* The strong decline in exports IN THREE YEARS

March 8 – China's exports recorded their largest decline in three years in February, while imports declined for the third month in a row, indicating a slowing of the Chinese economy will continue, despite a number of support measures adopted by the Beijing,

China's exports fell by 20.7% year on year in February, official statistics show released Friday, with the & # 39 is their biggest drop since February 2016.

Analysts polled by Reuters, expected much smaller decline (-4.8%) after growth at 9.1% in January.

Chinese imports also slowed to 5.2%, whereas the consensus of 1.4% after a 1.5% drop in January.

* The decline in the services sector – PMI Caixin

March 5 – China's service sector grew at its weakest pace in four months in February, under the influence of the downturn in new business, according to results published Tuesday in a survey conducted by Caixin / Markit purchasing managers from.

Services PMI is calculated Caixin / Markit rose to 51.1 last month, its lowest level since October, after 53.6 in January. Nevertheless, it remains above the 50 threshold that separates contraction and expansion.

For its part, the composite index, which includes both services and industry, was 50.7 in February, slightly lower compared to January (50.9).

Chinese authorities rely on the strength of the services sector to offset the decline in the manufacturing industry, which has suffered from rising labor costs and the pressure on the trade dispute between the US and China.

The service sector weighs up more than half of gross domestic product (GDP) of China. * NEW tightening IC – Caixin

March 1 – China's manufacturing activity experienced a reduction in February, the third consecutive month, reflecting the prolonged slump of new export orders, according to a survey published on Friday, made Caixin / Markit purchasing managers from.

This study highlights the slowdown in the Chinese economy and the impact of a trade dispute with the United States on exports, while an agreement between Beijing and Washington remains uncertain, despite the agreed extension of a commercial break, the US President, Donald Trump.

Manufacturing PMI is calculated Caixin / Markit rose to 49.9 in February, sharply compared with the previous month (48.3), but still below the 50 threshold that separates contraction and expansion.

This reduction is less than expected by economists polled by Reuters, 48,5.

* Indicators published in February (economic service)

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