Back
3 Apr 2014
China HSBC services index posts 4-month high
FXStreet (Bali) - China services activity growth strengthened to a four-month high, after the HSBC China Services Business Activity Index recorded a rise of 51.9 in March, up from 51.0 in February.
Commenting on the China data, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “The HSBC China Services PMI suggests a modest improvement of business activities in March, with employment expanding at a faster pace."
"However, combined with the weaker manufacturing PMI reading, the underlying strength of the economy is softening, which should ultimately weigh on the labour market. Beijing should focus on leading indicators to launch fine-tuning measures that support growth” Qu added.
Commenting on the China data, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “The HSBC China Services PMI suggests a modest improvement of business activities in March, with employment expanding at a faster pace."
"However, combined with the weaker manufacturing PMI reading, the underlying strength of the economy is softening, which should ultimately weigh on the labour market. Beijing should focus on leading indicators to launch fine-tuning measures that support growth” Qu added.