Seeking Alpha

Chinese manufacturing activity stuck in contraction

  • HSBC Chinese flash manufacturing PMI has indicated contraction for a fourth consecutive month, although the gauge has edged up to 48.3 in April from 48 in March. Consensus was for 48.4.
  • "Domestic demand showed mild improvement and deflationary pressures eased," said HSBC, "but downside risks to growth are still evident as both new export orders and employment contracted."
  • HSBC believes that the Chinese government will add to its recent stimulus measures and that the People's Bank of China "will keep sufficient liquidity."
  • The Shanghai Composite is -0.5%. (PR)
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