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China: PMI for Shipbuilding Sector Fell in March

The PMI for the shipbuilding sector stood at 50.02 in March, down 2.24 points MoM and 1.07 points YoY. After seasonal adjustment, the composite index was 47.65, down 7.64 points MoM and 1.13 points YoY. The index for production stood at 50.00, down 3.81 points on a monthly basis and 2.43 points on a yearly basis. The index for new orders fell 2.35 points month on month and 1.52 points year on year to 50.05. Shipbuilders kept 43.10 days of raw material inventories on average in March, down 0.02 day from the previous month. The number of days of raw material inventories is for reference as the survey sample may have changed.
Source: SMM Information & Technology

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