Story perspectives

China's PMI Signals Slower Services Growth Amid Weaker Demand

4/3/2026

Summary

Story summary

In March 2026, the China General Services Purchasing Managers' Index (PMI) fell to 52.1, down from 56.7, signaling slower services growth due to weaker demand and falling export orders despite domestic demand.
Employment in the services sector declined for the second consecutive month.
The official Manufacturing PMI rose to 50.4, indicating expansion after two months of contraction.
The composite PMI increased to 50.5, signaling a modest gain in overall activity.

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Story summary

In March 2026, the China General Services Purchasing Managers' Index (PMI) fell to 52.1, down from 56.7, signaling slower services growth due to weaker demand and falling export orders despite domestic demand.
Employment in the services sector declined for the second consecutive month.
The official Manufacturing PMI rose to 50.4, indicating expansion after two months of contraction.
The composite PMI increased to 50.5, signaling a modest gain in overall activity.