Improve manufacturing in China. In April, the PMI index of the sector calculated by HSBC in the flash reading rose to 49,1 points, against 48,3 in March. The chapter on new orders rose slightly from 47,4 to 48,9 points. However, the data remain - for the sixth consecutive month - below the threshold of 50 points, which marks the border between expansion and contraction.
According to Qu Hongbin, HSBC's chief economist for China, the result "testifies that the expansionary measures have begun to take effect and this should alleviate worries about a marked slowdown in growth".
The official PMI data, calculated by the Chinese Federation of Logistics and Purchasing, had already indicated an expanding economy for March, with an indicator at 53,1 points. The data for April, on the other hand, will be published at the beginning of May.
