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Chinese business sentiment remains mixed in March

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While increased disinflationary pressures in the prices that companies charged were still evident in March, this came alongside a surprising rise in input prices. The Prices Received Indicator fell to 39.1 in March from 39.8 in February, the twentieth straight month below the 50 breakeven level. On the back of the rebound in oil prices seen recently, firms reported that the price of their inputs rose at the fastest pace since October 2015. The Input Prices Indicator rose to 55.3 in March from 50.7 in February, with upward pressure on prices from the manufacturing sector.

"Recent results from the survey have shown that the strains on business have increased with the MNI China Business Sentiment Indicator below 50 for the second consecutive month, something not seen since the global financial crisis. Increases in Production, New Orders and Employment, though, suggest firms are on balance withstanding the various macro challenges, with looser policy helping," said Philip Uglow, Chief Economist of MNI Indicators.


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