Business conditions across the Chinese economy improved at the fastest rate for nine months during March, according to the latest Caixin PMI surveys, providing evidence to suggest that recent fiscal support measures are beginning to work. The Caixin China Composite PMI (which covers both manufacturing and services), compiled by IHS Markit, indicated the largest increase in output since mid-2014. The 'all-sector' output index rose to 52.9 in March from 50.7 in February.
The strongest growth in manufacturing output for seven months was accompanied by a surge in service sector business activity, its fastest gain in