Core Viewpoint - The economic indicators for March show a significant improvement, with EPMI rising 10.6 points to 59.6, marking a seasonal high, and BCI increasing 2 points to 54.8, the highest since June 2023, indicating a potential economic recovery starting from late 2024 [1][5][9]. Economic Indicators - The EPMI data for March indicates a strong upward trend, reaching 59.6, which is the second-highest level for March since 2019, suggesting improved economic conditions [4][5]. - The BCI also reflects a positive economic rhythm, with projections indicating initial recovery in late 2024, followed by a second dip in December and continued improvement in early 2025 [5][9]. Corporate Revenue and Profitability - The improvement in economic sentiment is expected to positively impact corporate revenues, as indicated by the rise in the sales expectation index for March. However, profitability is influenced by both volume and pricing, with a noted decline in the profit expectation index due to falling intermediate goods prices [3][6]. Price Trends - The consumer price forward index continues to rise, reaching a new high since the rebound began, indicating an improving trend in consumer prices. In contrast, the intermediate goods price index has not shown clear signs of recovery, with a decline observed in March after a brief rebound in February [6][7]. Inventory and Financing Environment - Inventory indicators have shown an upward trend, reflecting both proactive and reactive inventory adjustments by industrial enterprises. The BCI inventory forward index aligns with economic sentiment, primarily indicating proactive inventory replenishment [2][7]. - The financing environment index saw significant improvement in March, attributed to a more accommodative monetary policy and increased credit support for private and small enterprises [7][8]. Investment Sentiment - There are concerns regarding investment willingness, as the investment and hiring forward indices showed a decline in March, potentially linked to rising trade protectionism and external uncertainties, such as the recent tariff increases by the U.S. on Chinese products [8][9].