Factory activity in China stagnated in April, but still points to an expanding economy
April 30, 2024
Chinese factory activity remained in expansion territory for the second consecutive month in April, the latest sign of an acceleration in the pace of economic recovery. The official manufacturing Purchasing Managers’ Index (PMI), which measures sentiment among factory owners, was 50.4 in April compared with 50.8 in March, the National Bureau of Statistics (NBS) said on Tuesday. The reading remained above the 50 watershed level indicating expanding activity, after March’s reading capped five consecutive months of contraction.
