China’s manufacturing sector growth cooled slightly in April, according to the official PMI figures, with the index falling one percentage point to 51.4, Bloomberg reports this morning.
The reading still remains well above the 50 average, however, which indicates neither growth nor contraction in the sector.
The PMI, or Purchasing Managers’ Index, is released monthly by the government to give a snapshot of business performance and sentiment in a particular area of the economy.
The non-manufacturing PMI, also released this morning, showed a continuation of the service sectors strong run, climbing to 54.8 from 54.6 in March.