China’s PMI down slightly in April, continues to expand
By Global Times Published: Apr 30, 2019 10:30 AM
China's manufacturing sector expanded for a second consecutive month in April despite a slight contraction from a surprisingly strong reading in the previous month, official data showed on Tuesday.
The official manufacturing purchasing managers' index (PMI) came in at 50.1 this month, down from 50.5 in March, according to the National Bureau of Statistics (NBS).
A PMI reading above 50 points is expansion, while one lower than that lower suggest contraction.
In March, the manufacturing PMI beat grim forecasts to surge above the 50 level for the first time since November 2018.
The non-manufacturing PMI, which covers the services sector, was at 54.3 in April, down 0.5 percentage points from March, NBS data showed.
Following the slightly lower PMI readings, Chinese stock markets opened lower on Tuesday, with the Shanghai Composite Index down 0.32 percent and the Shenzhen Component Index shedding 0.51 percent.
Global Times