MNI DATA IMPACT: China April Mfg PMI Edges Down to 50.1

     BEIJING (MNI) - MNI highlights the following key takeaways from April PMI

data released by the National Bureau of Statistics on Tuesday:

     -- China's PMI decelerated to 50.1 after March's 50.5, missing the

MNI-survey forecast of 50.5. The index was in the expansion zone above 50 for

the second month, and is at the second highest level since November 2018.

     --Manufacturing activities are expanding steadily, the NBS said. Although

the production index and new orders edged down 0.6 and 0.2 pp from last month to

52.1 and 51.4 in April, they were still higher than the average for Q1 and have

remained at a relatively high level over the past seven months, according to the

NBS.

     --New export orders improved to 49.2 from 47.1 in March, accelerating for

the second month and pointing to a recovery in external demand.

     --The raw materials purchase price declined by 0.4 pp to 53.1, while

ex-factory prices rose by 0.6 pp to 52, hitting a six-month high. The gap

between raw materials purchase and ex-factory prices continued to narrow for the

second month, indicating improved profit margins, the NBS said. 

     --Th non-manufacturing PMI slowed to 54.3 from 54.8 in March, the fourth

consecutive month it has been in the expansionary zone above 54. Business

activities in banking remained at above 57, while constructions registered above

60. These results were all indicative of fast growth, the NBS said.   

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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