China Factory Data Show Global Slump Weaken Nascent Recovery
New export orders drop again to lowest since February’s nadir
Service and construction sectors continue recovering
China’s first official data for April suggest the economy has split into two tracks, with a domestic rebound undercut by weak overseas demand.
The official manufacturing purchasing managers’ index slipped to 50.8 from 52 a month earlier, according to data released by the National Bureau of Statistics on Thursday. New export orders plunged to 33.5 and a separate indicator more focused on smaller export-orientated firms returned to contraction.