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China Manufacturing Gauge Unexpectedly Declines in April


Tuesday, 30 April 2019 08:21 WIB

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The first official gauge of China's manufacturing sector fell in April, signaling that the economic stabilization seen in the first quarter remains fragile.

The manufacturing purchasing managers index stood at 50.1, down from 50.5 last month, while the non-manufacturing PMI -- a gauge of services and construction -- stood at 54.3 versus 54.8.

Economists had expected the the data to be basically unchanged from March, when the factory gauge rebounded over the reading of 50 and back into expansion territory

That comes after a stronger-than-expected first quarter, when gross domestic product expanded 6.4 percent and industrial output jumped 8.5 percent

"I expect the economy will see a double dip later this year, so will PMI," Larry Hu, head of Chinese economics at Macquarie Securities Ltd., said before the data was released.

Source : Bloomberg


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