China's factory activity slowed in March as export costs surged. The RatingDog manufacturing PMI fell to 50.8 from 52.1 in February, signaling weakening momentum for export-oriented firms. Rising fuel and freight costs tied to Middle East tensions are intensifying pressure on smaller exporters. Supply chain disruptions have become more pronounced. While official gauges showed manufacturing improvement, the private survey better reflects activity among smaller, export-dependent companies that face mounting headwinds. Asian manufacturing broadly weakened in March, with the ASEAN PMI declining to 51.8 from February's record 53.8. The outlook remains uncertain as the duration of regional conflicts could further impact global trade flows and shipping routes critical to Chinese exporters.
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