China's April factory activity likely expanded at slower speed: Reuters poll [Yahoo! Finance]
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Source: Yahoo! Finance
country's sprawling factory sector may have lost some momentum at the start of the second quarter. The official purchasing managers' index (PMI) likely slipped to 50.3 in April from 50.8 in March, according to the median forecast of 33 economists in the poll. The 50-point mark separates growth from contraction. The data will be released by the National Bureau of Statistics (NBS) on Tuesday. The world's second-biggest economy grew faster than expected in the first quarter, offering some relief to officials, but March indicators showed domestic demand remains frail. The property downturn continues to hurt local governments' finance and household confidence, analysts said. High frequency indicators such as steel demand showed muted growth in April, according to analysts at Goldman Sachs. "Residual seasonality in NBS manufacturing PMI also poses some downward pressure on the April reading. In historical years with similar calendar patterns to this year, both the NBS and Caixin m
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