China March official Manufacturing PMI 49.0, this is a 16-month low
expected 49.8, prior 50.5expected 50.6, prior 50.8
Composite PMI 50.2
prior 51.4***
How does it work?
Respondents (like purchasing managers) are usually asked whether key business indicators (e.g. new orders, output, employment) have increased, decreased, or stayed the same compared to the previous month.Above 50=ExpansionExactly 50=No changeBelow 50=Contraction
So, for example: A PMI of 50.5 means a majority of businesses reported growth compared to the previous month.
A PMI of 49.6 means a majority reported a decline.Here’s why:
The higher the number, the broader the expansion—but as long as it stays above 50, growth is continuing.
A diffusion index doesn't need to surge to be encouraging. A steady, slightly rising index suggests:
Confidence among businesses,
Diffusion indexes are all about momentum—the general trend in business conditions. Even modest gains reflect:
Cumulative improvement in areas like new orders or employment,And broad-based participation in recovery or growth, which can be more sustainable than sharp spikes.***
In summary:
A small rise in a diffusion index may not be flashy, but it's still positive because it means things are getting better, not worse—and in economics, direction and momentum often matter more than size in the short term. This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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