China Factory Activity Growth Improves

(RTTNews) - China's manufacturing activity expanded at a stronger-than-expected pace in April, survey data from S&P Global showed Thursday.

The RatingDog factory Purchasing Managers' Index rose to 52.2 from 50.8 in the previous month.

Economists had forecast the index to rise marginally to 50.9. The score has remained above the threshold 50.0 mark for the fifth straight month and signalled the strongest growth since December 2020.

The survey showed that business outlook improved and inflationary pressures intensified in April.

However, the official PMI survey results, published by the National Bureau of Statistics, showed that the manufacturing sector posted a softer expansion. The NBS factory PMI fell slightly to 50.3 in April from 50.4 in the prior month. The reading was seen falling to 50.1.

At the same time, the non-manufacturing activity slipped into the contraction territory. The official non-manufacturing PMI posted 49.4, down from 50.1 in March. The composite PMI dropped to 50.1 from 50.5 in the prior month.