By Arab Desk
According to China’s National Bureau of Statistics, the official non-manufacturing purchasing managers’ index recorded 56.4 in April, down from 58.2 in March, to stay above the 50-point level that separates the growth of the contraction of activity on a monthly basis.
The official composite PMI, which includes manufacturing and services, came in at 54.4, down from 57 in March.
An official survey showed on Sunday that factory activity in China fell in April.
According to the government statistics office and an official industry group, the monthly Purchasing Managers’ Index fell to 49.2 in April from 51.9 in March on a 100-point scale, with numbers below 50 indicating sluggish activity.
China’s National Bureau of Statistics and China Federation of Logistics and Purchasing said production metrics, new orders and employment fell from the previous month.
However, they mentioned that the production index remained above 50, which means there is still expansion. China’s economic growth accelerated in the first quarter of this year after the abrupt end of anti-virus measures and restrictions.
Authorities have warned that the country is likely to face import and export pressures in the coming months amid an uncertain global economic outlook, as well as weak domestic market demand in the world’s second-largest economy.
Against this backdrop, SNB chief statistician Zhao Qinghe said on Sunday that the drop in the manufacturing PMI was partly due to weak market demand and the relatively high number of cores recorded in the first quarter when the recovery took hold. been quick.
And earlier this year, the Chinese government set the economic growth target for this year at “about 5%”, a target that will only be achieved if gross domestic product grows faster in the coming months. would implement various policies “to achieve stability.
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Source: Slower-than-expected growth in non-manufacturing activity in China in April
Category: News, World, Asia, China, Global Economy, Google News
