China 's Caixin April Services PMI: Weakest reading since May 2016

Dhwani Mehta FXStreet

China 's Caixin April Services PMI came in at 51.5 vs 52.2 last, while its composite was 51.2 vs 52.1 last.

Summary – Services and Composite PMI data

The Caixin China Composite PMI™ data (which covers both manufacturing and services) signalled a further slowdown in growth momentum at the start of the second quarter. This was highlighted by the Composite Output Index posting 51.2 in April, down from 52.1 in March, and the lowest reading for ten months.

Commenting on the China General Services PMI™ data, Dr. Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group said: “The headline Caixin China General Services PMI fell for the fourth straight month in April to 51.5. It marked the weakest reading since May last year and was down 0.7 points from March. “The sub-indexes of input costs and output prices dipped, while the sub-index of new business went up marginally. Growth in both manufacturing and services decelerated in April, reflecting a clear slowdown in the expansion of the Chinese economy."

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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