(Yicai Global) May 2 -- China's manufacturing Purchasing Managers Index (PMI) and non-manufacturing business activity index both fell in April, but were within the 'expansion' range.
The country's manufacturing PMI was 51.2 in April, down 0.6 percent month-on-month and within the expansion range, per data published by the National Bureau of Statistics of China on April 30. The non-manufacturing business activity index was 54.0, 1.1 percent lower than in March. The non-manufacturing industry slowed down, but was still in the expansion range.
Shifting market dynamics, a lull in the high energy-consuming industries, changes in the price of domestic and foreign commodities, and decreased growth in cross-border trade all affected manufacturing PMI's decline in April, said Zhao Qinghe, the senior statistician of the bureau's Service Research Center.
In the non-manufacturing industry, the service industry slowed down. Its business activity index was 52.6, 1.6 percent lower than the previous month. The construction industry continued to expand at an accelerated pace. The implementation of the One Belt, One Road initiative and development of Beijing, Tianjin, Hebei, and the Yangtze River economic region drove infrastructure construction demand. The construction industry's business activity index has been in the 'high prosperity' range all year so far and was 61.6 in April, a 1.1-percent month-on-month increase.