China's manufacturing activity slows in April - Says HSBC
The manufacturing activities of China have slowed down in April. This has been reported by HSBC. As per an independent survey, the world's third-largest economy China is not completely free from the trap of global economic downturn and recession.
It has been a tough time for other developed and developing countries as well so far as manufacturing sector is concerned. UK manufacturing has shown some hope in the month of January and February 2010 but later it was unable to maintain that. Even India is also continuing with a slow manufacturing activity.
The HSBC China Manufacturing PMI has fallen down to55.4 in April. PMI stands for purchasing managers index. It was 57.0 in March this year. The figures of April have been the lowest in last six months.
However as it is above 50 that means the sector is expanding. HSBC chief economist Qu Hongbin has informed that April's PMI points suggest a moderate slowdown in this sector. There is a definite decelerate in the expansion of manufacturing activity in China.