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China: PMI manufacturing inches down in April

Christian Fernsby ▼ | April 30, 2019
The manufacturing purchasing managers’ index (PMI) published by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP) declined from 50.5% in March to 50.1% in April.
China factory
Asia   The index remained above the 50.0% threshold that separates expansion
Moreover, the print undershot the 50.5% expected by market analysts.

Despite the decrease, the index remained above the 50.0% threshold that separates expansion from contraction in the manufacturing sector.

April’s reading reflected a broad-based deterioration as all sub-categories of the index lost ground compared to March.

April’s drop was mainly driven by sharp declines in output and inventories, while the remaining components logged smaller decreases.

Despite increasing slightly in April, export orders were below the 50%-mark for the 11th consecutive month, highlighting the fragility of global demand.

Input prices remained in positive territory in April on stronger domestic activity and higher commodity prices.


 

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