China’s manufacturing sector dipped in April, according to a private Caixin survey, said CNBC.
The Caixin/Markit factory Purchasing Managers’ Index for April was 50.2 — lower than the March reading of 50.8, and missing the 51 projected by analysts in a Reuters poll.
Results of the private Caixin survey came after China’s National Bureau of Statistics released official manufacturing PMI for April, which fell to 50.1 from 50.5 in March. Analysts polled by Reuters had expected the indicator to stay at 50.5.
PMI readings above 50 indicate expansion, while those below that signal contraction. The official PMI survey typically polls a large proportion of big businesses and state-owned enterprises, while the Caixin indicator has a bigger mix of small- and medium-sized firms.