China Factory Activity Holds Up, Signaling Recovery Has Legs
- Back-to-back expansion in PMI is first for more than a year
- It comes after several March indicators pointed to slowdown
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China’s factory activity expanded for a second month, the best streak in more than a year, bolstering hopes that the rebound in the world’s second-biggest economy can be sustained.
The official manufacturing purchasing manager index reached 50.4 in April, the National Bureau of Statistics said on Tuesday, slightly better than forecast. The positive reading — any number above 50 points to an expansion — was echoed by a private measure that showed factory activity growing for six straight months.