China's manufacturing activity expanded slower than expected in April, official data showed on Sunday. The purchasing managers' index (PMI) came in at 50.1 in April, slightly down from March's 50.2 and below market expectations of 50.3, according to the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction. NBS statistician Zhao Qinghe said the country's manufacturing activity kept steady growth last month, partly due to a recovering housing market and accelerated infrastructure construction.
The sub-index measuring production stood at 52.2, slightly down from 52.3 a month earlier, but was higher than the first quarter's average of 51.3. Thanks to the government's pro-growth measures and supply-side structural reforms, market demand continued to rebound in April, Zhao said.
The sub-index for new orders settled at 51 percent, the second highest reading since last year. Prices of raw materials continued the upward trend last month, with the sub-index for purchasing price standing at 57.6, the highest reading in almost two years.
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