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Hopes for prolonged economic growth in China and subsequent support for global commodities demand have taken another hit, with the Caixin China General Manufacturing PMI signalling a contraction for April – following earlier official data.
“China’s recovery has hitherto been driven by pent-up demand, but the economy lacks a genuine growth driver,” ANZ Research said.
The Caixin PMI fell from the no-change level of 50.0 in March to 49.5 in April, the compiler of the survey S&P Global said.
The April manufacturing PMI was "well below" forecasts, CBA
China's factories pick up the pace in Feb
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