China: Manufacturing inches up in April
May 1, 2014
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.