China PMI


Manufacturing inches up in April

The Purchasing Managers Index (PMI) inched up from 50.3 points in March to 50.4 points in April according to the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP), which publish the index. April's print slightly undershot the 50.5 points that market analysts had expected. The PMI continues to rest just above the 50-point threshold that separates expansion from contraction in the manufacturing sector, where it has idled since September 2012.

April's figure reflected a broad-based improvement with only one of the five sub-categories recording a lower reading compared to the previous month. New orders registered the largest increase, whereas the production category saw a decline. Exports orders dipped into the red in April, while input prices-a reliable leading indicator for consumer prices-jumped to its highest level in three months.

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China PMI Chart

China PMI April 2014

Note: Purchasing Managers' Index. Readings above 50 points indicate an expansion in the manufacturing sector while readings below 50 points indicate a contraction.
Source: National Bureau of Statistics of China (NBS) and the China Federation of Logistics and Purchasing (CFLP).

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