Madhya Pradesh News Tribune
Buisness

China's manufacturing is declining, which raises questions about the recovery

China's manufacturing activity decreased in April, according to an official survey issued on Sunday, underscoring the challenges confronting authorities in sustaining the pace of the economic recovery.
According to the government statistics agency and an official industry association, a monthly purchasing managers' index decreased to 49.2 from 51.9 in March on a scale of 100 points, with figures below 50 indicating activity decline.
According to the National Bureau of Statistics and the China Federation of Logistics & Purchasing, there was a decline from the previous month in the output, new order, and employment indices. They said that there was still growth since the production index remained over 50.
In the first quarter of this year, China's economic development increased due to the sudden termination of anti-virus measures. The world's No. 2 economy's poor internal market demand and the possibility that the country would experience pressure from import and export in the coming months prompted authorities to issue a warning.
Zhao Qinghe, a senior statistician for the bureau, said on Sunday that the manufacturing purchasing managers' index had declined as a result of a lack of market demand and the comparatively high base number following the first quarter's quick rebound.
Additionally, the index measuring non-manufacturing commercial activities fell slightly from 58.2 in March to 56.4, according to official data. The composite PMI dropped from 57 to 54.4 this month from 57 previous month.
The Chinese government cautiously set the economic growth goal for this year at “around 5%,” which can only be met if GDP grows more swiftly in the following months.
In a recent statement, the administration said that it will put in place a series of steps to “stabilise growth,” increase domestic demand, and foster the development of new sectors.

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