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Chinaís manufacturing growth eased in April

May 04/2011

(ICIS) -- Chinaís manufacturing growth eased in April as the governmentís measures to tighten monetary policy started to show signs of helping to slow domestic demand, industry sources said on Tuesday.


The Purchasing Managersí Index (PMI) declined by 0.5 percentage points from March to 52.9% in April, according to a report from the China Federation of Logistics and Purchasing (CFLP) released on 1 May. The PMI fell after rebounding in March from three consecutive months of slowdowns.


The index for new orders fell by 1.4 percentage points month on month to 53.8% in April, with the import order index at 50.6%, a fall of 1.4 percentage points. The export index was 51.3%, a slide of 1.2 percentage points, according to data from CFLP.


The production index was 55.3% in April, a fall of 0.4 percentage points month on month, while the purchasing index dropped by 2.1 percentage points to 66.2%, according to the data.


China has raised interest rates four times since last October and has hiked the reserve requirement ratio ten times since early 2010.


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