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MNI BRIEF: Caixin Apr Manufacturing PMI Hits Over One-year High

MNI (Singapore)
MNI (Beijing)

China's Caixin manufacturing PMI registered 51.4 in April, up 0.3 points from March, staying in the expansionary zone above the breakeven 50 mark for a sixth month and hitting the highest level since March 2023, as both external and domestic demand improved, the financial publisher said on Tuesday.

Both production and new orders sub-indices continued upward trends, rising to the highest levels since June 2023 and March 2023 respectively in the expansion range. External demand saw a stronger rebound to hit its highest level since December 2020.

Caixin's PMI mainly tracks small and medium-sized manufacturers. The official PMI, which was released on the same day and typically covers large state-owned companies, fell by 0.4 points to 50.4 in April.

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