Caixin's China manufacturing PMI rises to 51.9 in April

Author: Nurluqman Suratman

2021/04/30

SINGAPORE (ICIS)--Caixin’s China manufacturing purchasing managers’ index (PMI) rose to 51.9 in April from 50.6 in March as new orders rose amid a further upturn in export sales, the Chinese media firm said on Friday.

The April reading signalled the strongest improvement in the health of the sector since December 2020, Caixin said in a statement.

"Total new orders rose for the eleventh month running in April, with manufacturers widely commenting on improved market conditions and greater customer demand," it said.

Overseas demand remained solid and the job market recovered in April, said Wang Zhe, senior economist at Caixin Insight Group.

"Manufacturers stayed confident about the economic recovery and keeping Covid-19 under control as the gauge for future output expectations was still higher than the long-term average," Zhe said.

"In the coming months, rising raw material prices and imported inflation are expected to limit policy choices and become a major obstacle to the sustained economic recovery," Zhe added.

Caixin's April reading contrasts with China's official (PMI) which fell to 51.1 in April from 51.9 in March, data from the National Bureau of Statistics (NBS) showed on Friday.

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