Statistics

HSBC China Manufacturing PMI remains 51.8 in April

(Xinhua)
Updated: 2011-04-29 16:24

HONG KONG - The HSBC China Manufacturing PMI is unchanged in April from March at 51.8, the Hongkong and Shanghai Banking Corporation (HSBC) said Friday.

The result signals a moderate improvement in Chinese manufacturing sector operating conditions, said HSBC. However, the latest index reading was down on the long-run series average of 52. 3.

Related readings:  WB raises China 2011 GDP forecast  China's GDP to grow 9.6% in 2011: IMF  HSBC PMI hits 27-month low point  PMI rise indicates more growth

"The final results from April's manufacturing PMI survey confirmed the picture of steady growth across the manufacturing sector," said Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC.

"This, plus stronger-than-expected March growth and inflation data, calls for a continuation of Beijing's tightening efforts in the coming months," Qu said.