English | دری

Unexpected decline in China’s manufacturing growth in April

in International Business

Unexpected decline in China’s manufacturing growth in April

china manfuacturingChina’s Purchasing Managers’ Index (PMI) dropped from 50.9 to 50.6 in April, indicating an unexpected slowdown in China’s manufacturing sector.

The drop in the growth of manufacturing sector, China’s main driver of economic growth, poses threats to its fragile economic recovery process.

“The dip in April PMI shows that the foundation for China’s economic recovery is still not solid,” said Zhang Liqun, an economist at the Development Research Centre, a top government think tank in Beijing.

China undertook a fresh wave of measures to help boost manufacturing growth, after the sector hit its 13-year low growth rate.

China’s economy, the world’s second largest economy, has been hit hard by the dwindling demand from key markets such as the US and the Eurozone.

Some analysts have warned of further decline in China’s growth.

As a result, there have been calls for Beijing to boost domestic consumption to reduce its reliance on exports, rebalance its economy and sustain its growth rate.

“We must work to stabilise domestic demand and make our economic recovery more sustainable,” said Mr Zhang.

Related Articles

SK Group chairman imprisoned on charges of embezzlement

Embezzling USD 46mn of the SK Group’s fund for personal investments, the group’s Chairman is sentenced to four years in

Chile’s Lan and Brazil’s Tam creating the World’s Second Biggest Airline

After two years of negotiation, Chile’s Lan airline finally completed a takeover of Brazil’s Tam. The merged airline company will

Top British insurance firm’s CEO steps down

Aviva announces chief executive’s departure amid concerns for hefty pay for bosses perceived to be underperforming. Andrew Moss is to

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.