China Factory Activity Slows
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China’s manufacturing activity expanded at a slower pace in April, while the nonmanufacturing sector slipped back into contraction, highlighting an uneven recovery.
The official manufacturing purchasing managers’ index (PMI) edged down to 50.3 but stayed above the 50 mark that separates growth from contraction, data from the National Bureau of Statistics showed. The nonmanufacturing PMI fell below that threshold to 49.4, weighed down by services and construction.
The split points to ongoing weakness in domestic demand even as parts of the manufacturing sector remain resilient.
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- China's manufacturing PMI edged to 50.3 in April (expansion), nonmanufacturing fell to 49.4 (contraction).
- High-tech manufacturing resilient; new export orders expanded first since April 2024.
- Raw material costs elevated; services/construction weak amid soft demand.
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