China PMI Reaches 50.3 in April, Surpassing Expectations

AI Summary

In April, China's official manufacturing purchasing managers' index (PMI) was reported at 50.3, surpassing the forecast of 50.1 by Reuters. This indicates that manufacturing activity remains in expansion territory, although it has slowed from the previous month’s peak. The non-manufacturing PMI contracted to 49.4, signaling a decline in services and construction activity. The new export orders sub-index rose to 50.3, the first increase in two years, highlighting some resilience despite challenges. The upcoming summit between President Xi Jinping and U.S. President Donald Trump could impact trade relations further.