China manufacturing growth slows in April

 
Suzie Neuwirth

GROWTH in China’s manufacturing sector slowed in April, raising concerns that its economy has not recovered after a weak first quarter.

The official purchasing managers’ index (PMI) dropped to 50.6 in April, less than 50.9 the previous month and falling short of analysts’ estimates of 51.0.

Global demand for Chinese exports tailed off, causing the slowdown in growth.

Much of Asia and Europe are on holiday today, meaning that the market reaction to the new China PMI figure will be mostly delayed until tomorrow.