China's factory activity expanded for a second consecutive month in April but at a slower pace, an official gauge showed, suggesting that the vast manufacturing sector might have lost some steam amid economic headwinds.
China's official manufacturing purchasing managers index fell to 50.4 in April from 50.8 in March, the National Bureau of Statistics said Tuesday. A reading above 50 indicates an expansion in activity while a reading below it indicates contraction.
Still, the result beat the forecast of 50.2 projected by a Wall Street Journal poll of economists.
Meanwhile, China's nonmanufacturing PMI, which covers both services and construction activity, declined to 51.2 in April, compared with 53 in March, the statistics bureau said.
The subindex tracking services activity fell to 50.3 from March's 52.4, while the construction subindex rose to 56.3 from 56.2 in March.
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(END) Dow Jones Newswires
04-29-24 2155ET
