财新中国综合采购经理人指数从2月份的51.5升至2025年3月的51.8,为去年11月以来的最高水平。这是私营部门活动连续第17个月增长,这得益于四个月来制造业产出的最强劲扩张和服务业增长的三个月峰值。活动的增加得益于新业务流入的增加,包括出口订单的稳步增长。积压的工作也连续第二个月增长。然而,就业水平下降,主要是由于服务业的裁员。在定价方面,平均费用连续第四个月下降,因为投入成本以近五年来最快的速度下降,尽管幅度很小。最后,商业信心保持积极,尽管与2月份相比略有下降,但情绪仍高于2024年的平均水平。
The Caixin China General Composite PMI rose to 51.8 in March 2025 from 51.5 in February, marking its highest level since last November. This was the 17th consecutive month of growth in private sector activity, driven by the strongest expansion in manufacturing output in four months and a three-month peak in service sector growth. The increase in activity was underpinned by higher inflows of new business, including a solid rise in export orders. Backlogs of work also grew for the second straight month. However, employment levels declined, mainly due to job shedding in the service sector. On the pricing front, average charges fell for the fourth consecutive month, as input costs declined at their fastest pace in nearly five years, albeit marginally. Lastly, business confidence remained positive, with sentiment staying above the 2024 average, despite a slight dip compared to February.