Hong Kong, China (4E) – The HSBC China Manufacturing Purchasing Managers’ Index (PMI), a measure of manufacturing activity in the world’s second-largest economy, climbed slightly to a final reading of 48.1 in April from 48.0 in the previous month, according to data by HSBC Holdings PLC released Monday.
A reading above 50 indicates expansion in manufacturing activity from the prior month and a reading below 50 means contraction.
The HSBC China Manufacturing PMI is based on data from monthly responses by purchasing executives to questionnaires sent to over 420 manufacturing firms.
The final reading was lower compared with April’s preliminary PMI reading by HSBC of 48.3. The preliminary figure is based on 85 percent to 90 percent of responses to the monthly PMI survey.
The Chinese government’s version of the manufacturing index that was released last week climbed to 50.4 in April, compared with 50.3 in the previous month, an indication of expanding factory activity for the month. The official estimate covers more state-owned firms that have benefited more from the economic policies of the government.