China’s PMI April 2024

According to the latest data from the National Bureau of Statistics, China's official manufacturing Purchasing Managers' Index (PMI) expanded in April reaching 50.4 from March’s 50.8, but above the 50-point threshold that separates growth from contraction.

The country’s composite PMI, which includes both manufacturing and non-manufacturing activities, decreased to 51.7 in April from 52.7 in the prior month. As for the non-manufacturing sector, which has been supporting the economic recovery so far, it came in at 51.2, slower compared to 53 in March.

Several key indicators of the Chinese economy, particularly consumer spending and the real estate sector, are still in a phase of recovery, and the Chinese government has implemented a series of policies and financial measures whose effects will be seen in the coming months.