China factory activity shrinks in April, new export orders contract
Published on May 5, 2014 10:14 AM
BEIJING (REUTERS) - Activity in China's manufacturing sector contracted for a fourth consecutive month in April, a private survey showed on Monday, adding to questions about whether the world's second-largest economy is still losing momentum.
The final reading of the HSBC/Markit purchasing managers'index (PMI) for April came in at 48.1, lower than a preliminary reading of 48.3 but up slightly from an eight-month low of 48.0 in March.
The HSBC/Markit PMI has been below the 50 level that separates growth from contraction since the start of 2014.
Output and new orders contracted in April, and new export orders slipped back into contraction after a recovery the previous month, the survey found.
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