BEIJING-- An official gauge of China's factory activity dropped in April following a strong rebound in March, as the coronavirus pandemic pressures external demand.
The official manufacturing purchasing managers' index dropped to 50.8 in April from 52.0 in March, the National Bureau of Statistics said Thursday.
Still, the index remains above the 50 mark that separates expansion of activity from contraction.
Analysts polled by The Wall Street Journal had expected April PMI at 51.0. Purchasing by manufacturers is a leading indicator of business activity because factories buy supplies in anticipation of demand.
Increased uncertainty caused by the outbreak overseas has presented more challenges for China's foreign trade, said Zhao Qinghe, senior statistician at the statistics bureau.
The new-export-orders subindex, a gauge of external demand, fell to 33.5 in April from 46.4 in March. The subindex measuring imports dropped to 43.9 from March's 48.4. The production subindex fell to 53.7 from 54.1 in March.
As the world struggles to contain the pandemic, Beijing has pushed hard to restart the Chinese economy and restore consumer confidence.
"Factory" - Google News
April 30, 2020 at 08:52AM
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China's factory activity fell in April - MarketWatch
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