Group 1: PMI Data Overview - The manufacturing PMI for March is 50.5%, up from 50.2% in the previous month[1] - The production index is at 52.6%, a slight increase of 0.1 percentage points from 52.5%[1] - The new orders index rose to 51.8%, compared to 51.1% previously[1] Group 2: Sector Performance - The equipment manufacturing PMI increased to 52%, up 1.2 percentage points from 50.8%[3] - The construction PMI is at 53.4%, down from 56.2% year-on-year[4] - The construction new orders index fell to 43.5%, lower than the previous value of 46.8%[4] Group 3: Economic Insights - The composite PMI for Q1 is 50.9%, higher than Q4 2023 but lower than Q1 and Q2 of 2024[2] - The EPMI index for March is strong at 59.6%, compared to 49.0% previously[3] - The overall economic recovery strength is assessed as weaker compared to previous quarters[2]
3月PMI数据点评：强在中游，弱在建筑
Huachuang Securities·2025-03-31 11:36