This is the private survey PMI, which is different to the 'official' surveyed PMIs out earlier (they are different surveys, the official has a great representation of large firms and SOEs)
China - Caixin/Markit Manufacturing PMI for April 51.9, highest for 2021 so far
- expected 50.9, prior 50.6
This result contrasts with the official manufacturing PMI which dropped on the month.
Both output and new orders increased at the fastest pace this year
- manufacturers increased staffing levels for the first time in five months
- outlook for the year ahead edged down but remained highly optimistic
Increase in input costs (prices of industrial metals - especially steel - and chemical raw materials continued higher). Wang Zhe, senior economist at Caixin Insight Group:
- "Rising raw material prices and imported inflation are expected to limit policy choices and become a major obstacle to the sustained economic recovery."
---
The Caixin survey focuses on small, private and export-oriented firms while the official survey, also released on Friday, typically polls large and state-owned manufacturers.
---
Earlier:
