(RTTNews) - The manufacturing sector in China continued to expand in April, and at a faster pace, the latest survey from Caixin said on Tuesday with a manufacturing PMI score of 51.4.
That's up from 51.1 and it moved further above the boom-or-bust line of 50 that separates expansion from contraction.
Underpinning the latest acceleration in manufacturing sector growth was better demand conditions. Incoming new orders expanded at the fastest pace in over a year, supported by improvements in underlying demand conditions and marketing efforts from manufacturers. Additionally, new orders from abroad expanded at the fastest pace for nearly three-and-a-half years. Global market demand improved at the start of the second quarter, according to panelists.
In turn, Chinese manufacturers raised their production levels at the fastest pace since May 2023, though that still resulted in additional backlog accumulation. Sub-sector data revealed that the investment goods sector recorded the fastest growth across the measures of new orders, output, and backlogs.
