MNI BRIEF: China April Mfg. PMI Moderates To 50.4
China's manufacturing Purchasing Managers' Index moderated by 0.4 points to 50.4 in April, expanding above the breakeven 50 level for the second month, driven by improved external demand and rapid expansion in high-end manufacturing amid policy push, data from the National Bureau of Statistics showed Tuesday.
The production sub-index rose 0.7 percentage points to 52.9, marking the highest since April 2023. Though the new orders and new export orders sub-indexes fell 1.9 and 0.7 pp, to 51.1 and 50.6, respectively, both stayed within the expansion range.
Non-manufacturing PMI registered 51.2, falling from last month's 53.0. The business activity index in the service sector decreased by 2.1 points to 50.3, with transportation and telecommunications services standing above 55.0 but capital market and real estate running at low levels, the NBS said.