China’s Factory Sector Contracts as Recovery Concerns Linger
- Manufacturing PMI contracts for first time since December
- Services activity expands on consumption, construction growth
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China’s manufacturing activity unexpectedly contracted in April, a sign the economic recovery remains patchy and may be struggling to sustain momentum.
The official manufacturing purchasing managers’ index fell to 49.2 from 51.9 in March, the National Bureau of Statistics said Sunday. The gauge dropped below the level of 50 — which signals contraction from the previous month — for the first time since December. Economists surveyed by Bloomberg had forecast 51.4.