Further Weakness in Chinese PMI Evidenced Slowdown

Asian shares steadied on Monday although weak Chinese PMI raised uncertainty of the growth outlook of the world’s second largest economy. The flash Chinese PMI compiled by HSBC/Markit fell to an 8-month low of 48.1 in March from 48.5 a month ago. The market had anticipated a pickup to 48.7. the flash reading of the manufacturing output index plunged to a 18-month low of 47.3 last month.

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Further Weakness in Chinese PMI Evidenced Slowdown