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Wednesday, May 15, 2013

China factory PMI: Doubts against economy’s strength

Without warning, this April, growth in China’s manufacturing sector unexpectedly slowed because new export orders drop. This causes rise in doubts towards the strength of the economy after a disappointing first quarter. While analysts had expected the April PMI to be 51.0 it the official purchasing managers’ index (PMI)fell to 50.6 in April from an 11-month high in March of 50.9. A comparable turn down in a preliminary HSBC PMI in the previous week reflected the recoil on the official PMI, signifying China’s exports engine is encountering an opposite from the euro zone recession and slow-moving growth in the United States. Analysts said it will provide support for the economy in the second quarter if China’s new government has signaled it will step up infrastructure investment. Source Site
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