China Caixin/Markit PMIs for March: Services 54.3 and Composite 53.1

China Caixin/Markit PMIs, Services and Composite, for March 2021:

Services 54.3

• expected 52.1, prior 51.5

• Business activity and sales both rise at quicker rates

• Employment returns to growth
• Business confidence hits highest for over a decade
• work backlogs rose for the first time in five months

Composite 53.1

• prior 51.7

And that brings an end to the series of PMIs out from China for the preceding month. ICYMI:

• China official PMIs for March show improvement
• China Caixin/Markit Manufacturing PMI for March: 50.6 (expected 51.4)

more to come