Purchasing managers surveyed in April reported production and export orders have slowed since March, while employers remain hesitant to hire.
China's manufacturing activity in April expanded for the second straight month, according to the country's statistics bureau, but by a slimmer margin than in March.The headline Purchasing Managers Index announced Tuesday was 50.4, 0.4 points less than the growth shown in the March report, which had sparked hope after five straight months of contraction in the manufacturing sector.
Inventory levels for finished products received a score of 47.3, down from 48.9 in March. With less unsold inventory on the shelves, demand for these goods appears to have been somewhat higher.Raw material inventories remained unchanged from March at 48.1.Purchasing managers' aggregated score for employment was 48 in April. It was the 14th straight month of contraction in this index, indicating employers are still hesitant to hire.
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