4月以来,国内外利空消息不断,3月汇丰中国PMI的终值终止了此前连续3个月的升势。官方公布PMI数据虽继续回升,但当月指数水平与历年同期相比仍显偏低。一季度中国经济增速、工业增加值增速等皆低于预期。美国令人失望的就业报告和消费信心指数让美国经济复苏的势头有所减弱。西班牙、意大利等国家国债收益率上升,令沉寂已久的欧债危机重燃市场的避险情绪。 Since April, there has been no news at home and abroad. The final value of HSBC China PMI in March ended the previous three-month rally. Although the official PMI data continue to rebound, the index level in the current month is still at a low level compared with the same period of the previous year. In the first quarter, the growth rate of China’s economy and the growth rate of industrial added value were lower than expected. The disappointing US employment report and consumer confidence index have weakened the momentum of U.S. economic recovery. Spain, Italy and other countries increased bond yields, so quiet for a long time the debt crisis in Europe to rekindle market risk aversion.