TODAY'S TOP STORIES

China Non-Manufacturing Growth Slows Amid Fragile Recovery

Growth in China's non-manufacturing industry moderated in April, adding to evidence that recovery of the world's second largest economy is losing momentum.

The headline purchasing managers' index, a gauge of the country's non-manufacturing performance, fell to 54.5 in April from 55.6 in March, the China Federation of Logistics and Purchasing and the National Bureau of Statistics said in a statement on Friday.

Readings above 50 indicate expansion of the sector, while readings below 50 suggest contraction.

Two recent PMI surveys of the manufacturing industry also revealed slowdown in factory activity.

China's economy expanded 7.7 percent year-on-year in the first quarter, decelerating from a 7.9 percent expansion in the fourth quarter that ended seven quarters of slowdown.

The CFLP survey showed that the new orders index dropped to 50.9 in April from 52 in March. Meanwhile, the new export orders index rose slightly to 51.9 in April from 52.1 in March.

Input price inflation dropped sharply with the corresponding index falling to 51.1 from 55.3 in March. Meanwhile, the employment at service providers picked up in April as the index rose to 51.4 from 50.4 in March.

The CFLP non-manufacturing index is based on responses from 1,200 firms including those in services and construction industries.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

More TODAY'S TOP STORIES