China's April PMI of manufacturing sector drops amid tightening moves
The Purchasing Managers Index (PMI) of China's manufacturing sector dropped to 52.9 percent in April from the previous month, the China Federation of Logistics and Purchasing (CFLP) said Sunday.
The PMI figure was 53.4 percent in March, 52.2 percent in February and 52.9 percent in January.
A reading above 50 percent indicates economic expansion. One below 50 percent indicates contraction. China's PMI has been staying above the boom-or-bust line for 26 months in a row.
The CFLP said in a statement that the drop indicates that China's economy is moving along the direction set by its macro control policies.
Analysts said the drop is in line with the slowing domestic demand growth and may add to possibilities of an economic growth slowdown.
The country's consumer price index (CPI), a main gauge of inflation, rose to a 32-month high of 5.4 percent in March from a year ago, with imported inflation strongly contributing to the domestic price hike.
To mop up the excessive liquidity that can stimulate inflation, the country's central bank has raised the reserve requirement ratio for commercial banks nine times since the beginning of last year.
On April 5, the central bank announced the second interest rate hike this year. It was also the fourth increase since the start of 2010.
Source: Xinhua
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The PMI figure was 53.4 percent in March, 52.2 percent in February and 52.9 percent in January.
A reading above 50 percent indicates economic expansion. One below 50 percent indicates contraction. China's PMI has been staying above the boom-or-bust line for 26 months in a row.
The CFLP said in a statement that the drop indicates that China's economy is moving along the direction set by its macro control policies.
Analysts said the drop is in line with the slowing domestic demand growth and may add to possibilities of an economic growth slowdown.
The country's consumer price index (CPI), a main gauge of inflation, rose to a 32-month high of 5.4 percent in March from a year ago, with imported inflation strongly contributing to the domestic price hike.
To mop up the excessive liquidity that can stimulate inflation, the country's central bank has raised the reserve requirement ratio for commercial banks nine times since the beginning of last year.
On April 5, the central bank announced the second interest rate hike this year. It was also the fourth increase since the start of 2010.
Source: Xinhua
Weekly review April 23 Pictures catch ancient & cultural heritage of a Sichuan town April 28 Will China's rise lead to the decline of U.S.? April 25 ! K unming-Singapore High-Speed Railway begins construction April 25 Chinese path -- a marvel of world's economic growth April 23 The week in pictures April 26 Second excavation to sunken 'Nan'ao No 1' finished April 27 Guizhou girl designs tea set for Prince William's wedding April 26 PLA reserve force Type 07 uniform makes debut in Beijing April 28 Old friends eye for new & higher levels of cooperation April 29 Shanghai auto show closes Editor
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