China’s official manufacturing purchasing managers’ index (PMI) climbed to 50.4 in April from March’s 50.3, just shy of market forecasts of 50.5, according to China’s National Bureau of Statistics.
A PMI reading below 50 indicates a contraction.
The new export order index, raw material inventory index and supplier delivery time index were higher than those in March. The production index dropped, and the employment index remained unchanged.
"Beijing’s mini-stimulus could help boost business sentiment, especially for large enterprises," BofA Merrill Lynch Global Research writes in a report.
The measures of mini-stimulus unveiled in April include bigger tax breaks for small business, rebuilding urban shantytowns and speeding up railway construction.