China: PMIs fall in April
The National Bureau of Statistics’ Manufacturing Purchasing Managers’ Index (PMI) fell from 50.8 in March to 50.4 in April. Consequently, the index stayed above the 50.0 no-change threshold, but signaled a slower improvement in manufacturing sector operating conditions from the previous month. The headline print chiefly reflected softer new orders growth.
The National Bureau of Statistics’ non-Manufacturing PMI fell from 53.0 in March to 51.2 in April, well below market expectations. This was the result of weaker momentum in the services sector, as the construction PMI ticked up.