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China’s Manufacturing PMI Slows Down in April But Services PMI Edges Up

Economic IndicatorsApr 30, 2018 12:48AM ET
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© Reuters. China’s manufacturing activities slowed down slightly in April

Investing.com – China’s manufacturing activities slowed down slightly in April, but services industry picked up, data on Monday showed.

The official Purchasing Managers’ Index (PMI) fell to 51.4 in April, compared to 51.5 in March and the general consensus of 51.3.

The figure is still well above the 50-point mark that suggests expanding business conditions in China, although the softer numbers hinted a loss of momentum in the country’s economy following recent trade disputes with the U.S.

"The support to the economy from the easing of pollution controls should now largely have run its course," said Chang Liu, China economist at Capital Economics in a note to clients.

"Slower growth is likely in the months ahead as the drags on economic activity from weaker credit growth and the cooling property market intensify," Chang added.

Meanwhile, the official services PMI rose to 54.8 in April from 54.6 in March, the China’s National Bureau of Statistics said in a statement, calling the progress “a steady development.”

The composite PMI that covers both manufacturing and services activities came in at 54.1 in April, versus March's 54, according to the statement, adding that new export orders edged down to 50.7 from 51.3, but remained in line with readings over the past several months. New orders also slipped, to 52.9 from 53.3.

Private PMI data from Caixin, which is generally a better reflection of conditions among smaller firms and the private sector, are due for release on Wednesday and Friday.

China’s Manufacturing PMI Slows Down in April But Services PMI Edges Up
 

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