China manufacturing sector grows slightly in April

The official China PMI has shown the country’s factories narrowly
increased output last month, remaining in slight growth.

The survey result from the National Bureau of Statistics saw an overall
result of 50.3 for April, up from March’s 50.3, Xinhua reports. The official PMI is dominated by larger, state-owned factories.

Any result above 50 indicates expansion, and below it contraction.

“We saw a continuation of growth from
March,” was how ADB economist Jurgen Conrad put it.

“The Flash PMI from HSBC was also stronger
than March. Overall, the economy is stabilizing. The GDP in China in the second
quarter will be higher than the first quarter.”

Reuters notes that the exports sub-index saw a sharp reduction for the month, and comes the day after Premier Li Keqiang announced that increased government
support was planned for the trade sector.

Image: News Corp