China PMI Growth Slows In April But Economy Still Expanding

China’s purchasing managers index (PMI) for the manufacturing sector slowed to 50.1 in April, down from 50.2 in March, but marked the second consecutive month of factory activity expansion, which contracted for a record seven consecutive months till February. Non-manufacturing PMI for April also fell to 53.5 from 53.8 in March, official data released Sunday showed.

A PMI reading of over 50 indicates growth in the sector, and conversely, a reading of less than 50 signifies a contraction.