China non-manufacturing activity expands more slowly in April – official PMI

Dollars Markets | 2023-05-06 18:26

Abstract：China’s non-manufacturing activity expanded at a slower pace in April, official data showed on Sunday, a discouraging sign for policymakers counting on services consumption to offset frailty in the factory sector amid slack global demand.

Chinas non-manufacturing activity expanded at a slower pace in April, official data showed on Sunday, a discouraging sign for policymakers counting on services consumption to offset frailty in the factory sector amid slack global demand.

The official non-manufacturing purchasing managers index (PMI) stood at 56.4 versus 58.2 in March, according to data from the National Bureau of Statistics, above the 50-point mark that separates expansion and contraction in activity on a monthly basis.

The official composite PMI, which includes manufacturing and services, stood at 54.4, compared with 57.0 in March.

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