May 04, 2023 09:45 AM

China’s Factory Activity Contracts Amid Weak Demand, Caixin PMI Shows

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An index of China’s manufacturing activity slid back into contraction in April as the country’s economic recovery from almost three years of stringent Covid-19 controls lost momentum, a Caixin-sponsored survey showed Thursday.

The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives an independent snapshot of the country’s manufacturing sector, fell for the second straight month in April, dropping to 49.5 from 50 the previous month and 51.6 in February. A reading below 50 indicates a contraction in activity, while a number above that signals an expansion.

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