China’s manufacturing activity was weaker than expected in April, according to a survey by an industry group.
The China Federation of Logistics and Purchasing says its purchasing managers’ index declined to 50.1 in April from the previous month’s 50.2 on a 100-point scale. Numbers above 50 indicate that activity is expanding.
The federation cited analyst Zhang Liqun as saying that the index fell back but still showed activity expanding.
China’s economic growth slowed in the first quarter to 6.7 percent, largely in line with expectations, but it’s the slowest pace since the global financial crisis.