Survey shows China’s manufacturing accelerated in April as domestic demand up
By APFriday, April 30, 2010
Survey: China manufacturing accelerated in April
BEIJING — A survey says China’s manufacturing accelerated in April as domestic demand increased.
The state-affiliated China Federation of Logistics and Purchasing says its purchasing managers index, or PMI, rose to 55.7 in April from 55.1 in March.
Numbers above 50 show manufacturing activity expanding. The index has remained above 50 for 14 straight months after a slowdown in late 2008 and early 2009.
The report says the April number reflects that China’s economy is back on the track of stable and relatively fast growth. But it says concerns continue about the rising prices of oil, gas, water and electricity. The country’s inflation eased to 2.4 percent in March.
A separate index issued by HSBC Corp. is to be released Tuesday.
