In April, China’s manufacturing sector experienced a slowdown, as indicated by a key economic measure, signaling a loss of momentum in its recovery. The Purchasing Managers’ Index (PMI), released by Beijing’s statistics office, dropped from 50.8 to 50.4 points during the month.
Despite the decline, this marks the second consecutive month that the index has remained above the critical threshold of 50 points, indicating an expectation of industrial activity expansion. Earlier in April, the statistics office reported a 5.3 percent growth in the first quarter compared to the same period last year.
During the annual People’s Congress in March, the government set a growth target of around five percent, a goal considered ambitious by some analysts given the economic landscape. However, challenges such as the ongoing property market crisis and subdued domestic consumption continue to hinder China’s economic progress.
