Asian session data update: China Caixin PMI services dropped

China Caixin PMI services dropped 0.5 to 54.2 in February. Key points are:

• Softer increases in activity across both the manufacturing and service sectors
• New order growth slows at services companies, but picks up at manufacturers
• Input price inflation subsides

Summary:

• Australia TD securities inflation Feb: -0.1% mom, prev 0.3% mom
• Australia buidling approvals Jan: 17.1% mom, forecast 5.0% mom, prev -20.6% mom. Release.
• China Caixin PMI services Feb: 54.2, forecast 54.3, prev. 54.7 Release.