Official China PMI Jumps in April
Amidst the fiscal uncertainty that continues to affect the world, China's manufacturing activity continued to rally for the fifth straight month in April, hinting economic movement in factories of the world's second-largest economy is recovering and stabilizing.
China's official purchasing managers' index (PMI) for manufacturing in April jumped to a one-year high of 53.3, from 53.1 in March, according to a statement released Tuesday by the China Federation of Logistics and Purchasing (CFLP), and the National Bureau of Statistics.
The latest figure likewise signified China's fifth straight month above the 50 level, suggesting an expansion of activity in the country's vast manufacturing sector.
"The PMI continued to rise in April, though at a more modest pace," CFLP analyst Zhang Liqun said in the statement. "It shows that China's economy has become more stable, although there are still uncertainties."
"Economic growth may slow further going forward as a result of the (less robust) demand situation," Zhang added.
An improvement in the production index, which jumped 2 points from the previous month to 57.2, helped boost the increase. The indexes for new orders also improved, albeit slower compared in March.
Economists and analysts believe economic activity is slowly picking up.
"Economic activity has started to recover but at a relatively slow pace," analyst Qinwei Wang said in Reuters News.