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China Manufacturing Declines in April

Official data released on Sunday revealed that China’s manufacturing activity declined in April. This follows a decline in global demand and weakness in the property market that has slowed down the country’s post-Covid economic recovery.

Data from China’s National Bureau of Statistics showed that the nation’s official manufacturing purchasing managers’ index (PMI) was down from 51.9 in March to 49.2 in April. According to the measurement, 50 points is the mark that separates expansion and contraction. The first contraction since December, April’s result fell short of the 51.4 point rating expected by analysts according to a Reuters poll.

The politburo convened on Friday amid concerns about building toward a sustainable economic recovery. Here, top policymakers from the ruling Communist Party determined that increasing demand will be critical to putting growth back on track. Net exports for the period fell from 50.4 in March to 47.6.

China’s manufacturing sector, which provides 18% of the country’s total employment, is struggling to perform as a result of wavering demand. The government is looking to implement several initiatives this week to revive the sector, including support of vehicle exports, issuing visas for foreign workers, and providing subsidiaries to companies that hire college graduates.

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