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  • The official March PMIs support our view that China will be relatively resilient to the energy-price shock.
  • Output and demand activity indicators were solid, despite the surging manufacturing input price gauge.
  • Private-sector sentiment took a small dent in March, but nothing like the fall amid last year’s tariff war.

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Keywords for: 1 April 2026 China+ Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence