Fac­tory out­put weak­ens in April

China Daily (Canada) - - NEWSCAPSULE -

Fac­tory ac­tiv­ity in China weak­ened for a fourth straight month in April, al­though the rate of de­cline eased, HSBC Hold­ings Plc said as it re­leased its monthly Pur­chas­ing Man­agers’ In­dex.

The pre­lim­i­nary read­ing was 48.3, com­pared with 48.0 in March. A read­ing be­low 50 in­di­cates a con­trac­tion.

Con­trac­tion in new ex­port or­ders and em­ploy­ment will prob­a­bly con­tinue to ex­ert down­ward pres­sure on growth, the bank said.

Ac­cord­ing to the Na­tional Bureau of Sta­tis­tics, in­dus­trial out­put ex­panded 8.7 per­cent year-on-year in the first quar­ter, a five-year low. The rate was 9.5 per­cent in the same pe­riod of 2013. (Photo 5)

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