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China's manufacturing growth slowed in April

30 Apr,2017

 

Beijing, BdChronicle:

Official data showed growth in China's manufacturing sector slowed in April, pointing to an unsteady recovery in the world's second-largest economy.

The monthly purchasing managers' index by the Chinese Federation of Logistics and Purchasing fell to 51.2 in April, lower than the 51.8 recorded in March.

The index is based on a 100-point scale on which numbers above 50 indicate expansion.

April's figure released Sunday still represented a ninth consecutive month of expansion.

China's huge manufacturing sector is seen as an important indicator for the wider Chinese economy. It has cooled gradually over the past six years as Beijing tries to pivot it away from heavy reliance on export-based manufacturing and investment toward consumer spending.

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