China's March Non-Manufacturing PMI Drops To 54.5

China's official non-manufacturing PMI tumbled to 54.5 in March, versus a reading of 55.0 in February, the China Federation of Logistics and Purchasing reported.

China's subindex for services fell to 52.8 versus 53.8, while the construction subindex climbed to 61.3 versus 59.9.

On Tuesday, the federation reported that its official manufacturing PMI climbed to 50.3 in March versus 50.2 in February.