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Manufacturing In World’s Second-Biggest Economy Slows

April 30, 2021 by Forex Winner Leave a Comment

Manufacturing In World's Second-Biggest Economy Slows

China’s manufacturing output grew at a slower pace in April as the economic recovery has started to moderate, according to Bloomberg.

China's manufacturing output grew at a slower pace in April as the economic recovery has started to moderate
  • Manufacturing purchasing managers’ index (PMI) declined to 51.1 in April from March’s 51.9. This fell short of economists’ forecast of 51.8. A reading above 50 indicates expansion while below that indicates a contraction.
  • The Non-manufacturing gauge likewise failed to meet expectations at 54.9 versus economists’ projection of 56.1.
  • China’s Statistics Bureau Economist Zhao Qinghe said the figures indicate a steady recovery, but flagged concerns such as chip shortages, “poor” international logistics, shortages of containers, and rising freight rates.
  • “A slowdown in manufacturing supply and demand and rising cost pressures are also issues,” the statistician said.
  • New export orders eased to 50.4 from 51.2 in March; manufacturing employment at 49.6; non-manufacturing employment at 48.7.
  • An analyst believes a rebound in the following month as domestic tourism is likely to rebound over the long holiday starting May 1.

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