Man­u­fac­tur­ing growth slows; mo­men­tum steady

China Daily (Canada) - - NEWS CAPSULE -

China’s man­u­fac­tur­ing growth slowed in April as the gov­ern­ment tight­ened su­per­vi­sion of fi­nan­cial risks, but still main­tains mo­men­tum, ac­cord­ing to an­a­lysts.

The Pur­chas­ing Man­agers’ In­dex, which re­flects the man­u­fac­tur­ing sec­tor’s per­for­mance, reg­is­tered 51.2 in April, slightly lower than 51.8 a month ear­lier, ac­cord­ing to data from the Na­tional Bureau of Sta­tis­tics. The fig­ure re­mains above the year-ago in­dex of 50.1.

A fig­ure above 50 in­di­cates growth in the sec­tor, which is a key driver of the Chinese econ­omy, while any­thing be­low points to con­trac­tion. The read­ing has kept above 50 for nine con­sec­u­tive months.

Although the growth speed slowed a lit­tle com­pared with the pre­vi­ous two months, re­main­ing above the 50 boom-or-bust point means that the sec­tor has not lost its growth mo­men­tum and the eco­nomic fun­da­men­tals re­main sound, ac­cord­ing to Zhao Qinghe, a se­nior NBS statis­ti­cian.

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