China’smaking PMI down in April

F.P. Report

BEIJING: The purchasing managers’ index (PMI) for China’s manufacturing sector came in at 49.2 in April, down from 51.9 in March, data from the National Bureau of Statistics showed Sunday.

A reading above 50 indicates expansion, while a reading below 50 reflects contraction.

The April reading was affected by insufficient market demand and a high base in the first quarter, the bureau’s senior statistician Zhao Qinghe said.

Breaking down the headline figure, the production index and the new orders index reached 50.2 and 48.8, respectively.

The PMIs of equipment manufacturing, the consumer products industry and high-tech manufacturing stood at 50.1, 49.8 and 49.3, respectively.

Market sentiment remains stable as the sub-reading for business expectation stood at 54.7, said Zhao. Sunday’s data also showed that the PMI for China’s non-manufacturing sector stood at 56.4 in April, down from 58.2 in March. (APP)