China’s HSBC Flash PMI Slips To 49.2 In April

China’s HSBC flash manufacturing purchasing managers index (PMI) slips to 49.2 in April, from a final reading of 49.6 and a flash reading of 49.6 in March, reaching a 12-month low for the index.

"Operating conditions in China’s manufacturing sector deteriorated slightly for the second month running in April…Production increased only marginally, while total new business declined for the second successive month," says Annabel Fiddes, economist at Markit.

"Relatively weak demand conditions were also highlighted by stronger deflationary pressures in the sector, with both input and output prices falling at faster rates. Meanwhile, job shedding across manufacturing firms was recorded for the eighteenth month in a row," adds Fiddes.

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