China’s manufacturing activity growth in March lowest in almost a year due to soft domestic demand

• The Caixin/Markit manufacturing purchasing managers’ index (PMI) dropped to 50.6 last month – the lowest level since April 2020 – from February’s 50.9, missing analyst expectations for an uptick to 51.3
• The findings contrasted with the official survey which showed manufacturing activity grew at a stronger pace as large firms ramped up production after a brief lull during the Lunar New Year holiday