China's manufacturing activity expanded at its weakest pace in four months in March. That's according to a private survey. The Caixin/Markit Manufacturing Purchasing Managers' index (PMI) fell to 51 in March from February's 51-point-6. The index is the lowest reading since November but remained above the 50 mark that divides growth from contraction on a monthly basis. Production and total new orders lost momentum while exports sales increased only marginally. Employment declined at the quickest pace since last August due to cost-cutting plans. Inflationary pressure cooled. Business expectations improved to its highest in a year thanks to forecasts of more investment and better market conditions. The official release says the growth momentum in March may have weakened but only at a marginal pace.