In another sign of the cooling of China’s economy, its April PMI fell. It is unclear how much this drop had to do with U.S. trade sanctions.
The official Purchasing Managers’ Index (PMI) for manufacturing fell to 50.1 in April from March’s reading of 50.5, which was the first expansion in four months, data from the statistics bureau showed.
It hovered just above the neutral 50-point mark which separates expansion from contraction on a monthly basis. Analysts surveyed by Reuters had forecast the PMI to match March’s 50.5.
And from Trading Economics:
The Official NBS Manufacturing PMI in China fell unexpectedly to 50.1 in April 2019 from a five-month high of 50.5 in the previous month and missing market expectations of 50.5. Both output (52.1 vs 52.7 in March) and new orders (51.4 vs 51.6) rose at softer paces, while buying levels was little-changed from the previous month (51.1 vs 51.2). At the same time, employment contracted at a faster rate (47.2 vs 47.6).