Economic Buzz: China Caixin Services PMI Slows To 52.32 In March

China service sector continued to expand in March with a services PMI score of 52.3, albeit at a slower pace, the latest survey from Caixin revealed on Wednesday. Thats down from 54.2 in February, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. Individually, the latest reading pointed to a modest increase in services activity that was softer than the long-run trend. Growth in manufacturing output was also slightly weaker than that seen on average over the series 14-year history. Outstanding business increased slightly at services companies, following broadly stagnant backlogs over the opening two months of the year. Also, the composite index sank to 51.8 from 53.3 in the previous month.