HONG KONG - The HSBC China Manufacturing PMI is unchanged in April from March at 51.8, the Hongkong and Shanghai Banking Corporation (HSBC) said Friday.
The result signals a moderate improvement in Chinese manufacturing sector operating conditions, said HSBC. However, the latest index reading was down on the long-run series average of 52. 3.
"The final results from April's manufacturing PMI survey confirmed the picture of steady growth across the manufacturing sector," said Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC.
"This, plus stronger-than-expected March growth and inflation data, calls for a continuation of Beijing's tightening efforts in the coming months," Qu said.