Official data: Chinese manufacturing PMI declines to 50.1 in April
The Chinese manufacturing PMI fell to 50.1 in April from 50.2 in March, according to the Chinese government. Analysts had expected the index to increase to 50.4.
A reading above the 50 mark indicates expansion, a reading below 50 indicates contraction.
The decrease was driven by falls in output, new orders and employment. The production sub-index declined to 52.2 in April from 52.3 in March, the new orders sub-index was down to 51 from 51.4, and the new exports sub-index fell to 50.1 from 50.2, while the employment sub-index decreased to 47.8 from 48.1.
The services PMI decreased to 53.5 in April from 53.8 in March.
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