The latest PMI index – which ranks movement in the manufacturing sector – for China shows that industry over there is losing momentum. The sector is ranked out of 100. 50 is “zero” meaning 51 demonstrates some growth whereas 49 shows a slight slow down. HSBC/Markit says China was ranked at 49.6 in March…but has dropped severely to 46.2 in April. The report shows a drop in domestic demand, although China continues to export manufactured goods – their export ranking jumped nearly 2 points to 50.6.
Source: Manufacturers Monthly