Growth in China’s manufacturing PMI slows in April
by ChemOrbis Editorial Team - content@chemorbis.com
According to the data from IHS Markit, China’s manufacturing sector expanded in April, albeit at a slower pace. The manufacturing PMI was at 50.3 in April from 51.2 in March due to weak output and new orders. The reading also fell below the expectations of a reading of 51.3. Services PMI also fell to a reading of 54 from 55.1 in March.
The data showed that new orders from abroad were at the lowest level this year in April, which caused manufacturers to continue to reduce their output and workforce numbers. However, cost pressures seemed to ease in April while the rate of input price inflation dropped to seven-month low, which enabled companies to raise their prices at a moderate rate.
The data showed that new orders from abroad were at the lowest level this year in April, which caused manufacturers to continue to reduce their output and workforce numbers. However, cost pressures seemed to ease in April while the rate of input price inflation dropped to seven-month low, which enabled companies to raise their prices at a moderate rate.
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