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China factory activity shrinks for 4th month

Output and new orders both contract at weaker rates in April

April 23, 2014 12:14 IST | India Infoline News Service
China's factory activity declined for the fourth straight month in April, signalling economic weakness into the second quarter, a preliminary survey showed on Wednesday, although the pace of decline eased helped by policy steps to arrest the slowdown.
The HSBC/Markit flash Purchasing Managers Index (PMI) for April rose to 48.3 from March's final reading of 48.0, but was still below the 50 line separating expansion from contraction.
The estimate is typically based on approximately 90% of total PMI survey responses each month and is designed to provide an accurate indication of the final PMI data. April final PMI data will be released on 5 May 2014.

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