4 May 2015
China's Manufacturing PMI deteriorates in April
FXStreet (Bali) - China's Manufacturing PMI survey came at 48.9 vs 49.2 expected for the month of April, with the report noting that Chinese manufacturers saw a further deterioration in operating conditions, with total new orders declining at the strongest pace for a year while production levels stagnated.
Commenting on the China Manufacturing PMI™ survey, Annabel Fiddes, Economist at Markit said: “China’s manufacturing sector had a weak start to Q2, with total new business declining at the quickest rate in a year while production stagnated. Fewer new orders
appeared to stem from weaker domestic demand, as new business from abroad showed tentative signs of improvement. Nonetheless, further job cuts and reduced purchasing activity suggest that the sector may struggle to expand in the near -term. "
"Furthermore, the PMI data indicate that more stimulus measures may be required to ensure the economy doesn’t slow from the 7% annual growth rate seen in Q1.”
Commenting on the China Manufacturing PMI™ survey, Annabel Fiddes, Economist at Markit said: “China’s manufacturing sector had a weak start to Q2, with total new business declining at the quickest rate in a year while production stagnated. Fewer new orders
appeared to stem from weaker domestic demand, as new business from abroad showed tentative signs of improvement. Nonetheless, further job cuts and reduced purchasing activity suggest that the sector may struggle to expand in the near -term. "
"Furthermore, the PMI data indicate that more stimulus measures may be required to ensure the economy doesn’t slow from the 7% annual growth rate seen in Q1.”