Released: 26 March 2021
Business Confidence Now at Almost 6 Year High Exhibited by China's Manufacturing Sector Sales Managers. Prices Tumble as Output Cranks Up
The Chinese Manufacturing sector data for March shows growing confidence in the near future and a major increase in the Sales Growth Index (this is compared with last months New year holiday period, an exaggerated dip); and a good but more realistic increase in the Market Growth, Staffing and Profit Levels indexes.
The big surprise is a significant fall in the Price Index which is attributed by some managers to attempts to benefit from demand in reawakening global markets before rival capacity is fully operational.
The Chinese Manufacturing sector is clearly leaving in its wake the Covid period.
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China Manufacturing: Business Confidence Index
Results from the Chinese Service sector are mixed.
All indexes point to growing economic activity as recovery from Covid expands capacity. But Confidence remains relatively low, certainly in comparison with the manufacturing sector.
The Market Growth remains somewhat muted. And the Price Index, in direct contrast with the Manufacturing Sector sister Index is rising.
Overall, the Chinese economy is outpacing its rivals in the race to reopen facilities after the damage wrought by Covid over the past year.
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