(MENAFN) According to official data released on Tuesday, China's manufacturing sector recorded a Purchasing Managers' Index (PMI) of 50.4 in April, showing a slight decrease from the previous month's figure of 50.8. The PMI serves as a key indicator of the sector's health, with a reading above 50 indicating expansion and a reading below 50 reflecting contraction.
Senior statistician Zhao Qinghe of the National Bureau of Statistics (NBS) noted that despite the slight dip, the manufacturing PMI has sustained expansion for two consecutive months, signaling the sector's ongoing recovery. Zhao highlighted that enterprise production accelerated notably, with the production index reaching 52.9, its highest level since April 2023.
Market demand also showed resilience, with the new orders index standing at 51.1 in April, indicating continued expansion. Zhao emphasized that companies of varying sizes, including large, medium-sized, and small enterprises, all maintained PMI readings above the boom-bust threshold, with respective figures of 50.3, 50.7, and 50.3.
Furthermore, Zhao underscored the robust expansion of new economic drivers within the manufacturing sector. Specifically, the PMI readings for equipment manufacturing and high-tech manufacturing reached 51.3 and 53, respectively, in April.
The NBS reported that market sentiment in the manufacturing sector remained positive, as reflected by the sub-reading for business expectations, which stood at 55.2. This stability in business outlook suggests confidence among manufacturers regarding future growth prospects and overall economic conditions.
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