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Recovery Holds For Now


Recovery Holds For Now


SocGen Sees Big Unemp Rate Drop; JPM In Line On Job Gains


Trend Direction Remains Down


Reverse Repo Operation

     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
     --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:
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