China says its manufacturing activity expanded slightly in April, but missed expectations

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China says its manufacturing activity expanded slightly in April, but missed expectations
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The manufacturing data comes as lockdowns and movement restrictions to contain the coronavirus began to ease in China.

PMI readings above 50 indicate expansion, while those below that level signal contraction., the official PMI hit a record low of 35.7 as China was hit by the coronavirus outbreak that first emerged from the city of Wuhan in central China. Large-scale lockdowns were implemented to slow the spread of the disease officially known as Covid-19, sending the world's second-largest economy to a standstill.China's GDP contracted by 6.

But lockdowns in China have started to lift with people going back to work as the number of daily new Covid-19 cases fall. Despite production coming back online, demand for Chinese products is now expected to be dented by a demand slump from the rest of the world due to the global spread of the coronavirus that has sparked concerns about a global recession.

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