China's Caixin manufacturing PMI unexpectedly drops to 50.2 in April

Tuesday, 30 April 2019 09:43 WIB

Caixin PMI


China's April Caixin manufacturing PMI came in at 50.2 vs. 51.0 expected and 50.8 last, as the overall health of China's manufacturing sector improved for the second straight month.

Earlier today, the purchasing managers' index (PMI) for China's manufacturing sector arrived at 50.1 in April, down from 50.5 in March, the National Bureau of Statistics (NBS) reported.

Latest PMI data showed that the overall health of China's manufacturing sector improved for the second month running in April, albeit at a softer pace. Output and total new work both rose slightly, though companies reported a marginal fall in new work from overseas. Buying activity meanwhile stabilised, but relatively subdued demand conditions led firms to remain reluctant to expand their inventories in April.

Prices data indicated that overall inflationary pressures softened at the start of the second quarter. Input costs and output charges both rose only marginally, with some linking lower selling prices to recent sales tax reforms. Encouragingly, business confidence regarding the one-year outlook for production improved to an 11-month high.

Latest data showed that manufacturing output in China rose again in April. Though marginal, the upturn extended the current expansionary sequence to three months. New orders followed a similar trend, and rose at a softer pace than seen in March. Data indicated that subdued sales largely stemmed from weaker foreign demand, as new export business fell for the second time in the past three months.

Source : Fxstreet




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