China's factory activity expands at fastest clip in 14 months, Caixin PMI shows [Reuters]
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Source: Reuters
export orders, a private survey showed on Tuesday, an encouraging sign for an economy still struggling to mount a robust recovery. The Caixin/S&P Global manufacturing PMI rose to 51.4 in April from a 51.1 the previous month, marking the fastest pace since February 2023 and above analysts' forecasts of 51.0. The 50-point mark separates growth from contraction. The reading echoed solid first-quarter growth although other indicators for March have pointed to still-frail domestic demand and protracted weakness in the property sector Data including industrial profits, retail sales and property sales suggest China might struggle to meet its GDP growth target of around 5.0% for 2024, a goal analysts have described as ambitious. Expansion in manufacturers' output and new orders accelerated last month, the PMI survey showed. New export orders provided a bright spot as they grew at the fastest clip in nearly three and a half years. "Investment goods outperformed both consumer and inte
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