China’s RatingDog manufacturing PMI rose to 52.2 in April from 50.8 in March, the strongest reading since late 2020, beating the 51.0 forecast, as output and new orders surged and input costs hit a four-year high.
China’s RatingDog manufacturing PMI rose to 52.2 in April from 50.8 in March, the strongest reading since late 2020, beating the 51.0 forecast, as output and new orders surged and input costs hit a four-year high. Earlier: China official April PMI Manufacturing 50.3 (expected 50.1) Non-manuf. 49.4 (exp 49.9) Summary: The RatingDog China General Manufacturing PMI, compiled by S&P Global, rose to 52.2 in April from 50.8 in March, beating the 51.0 consensus forecast and marking the strongest reading since late 2020 Output grew at the fastest pace since June 2024, driven by stronger demand, operational improvements and new product launches, with the consumer goods sector leading the expansion New orders surged, with export orders expanding for a fourth consecutive month, the longest such run since the first half of 2024 Input price inflation reached its highest level in just over four years, with output prices and export charges both rising at the fastest pace since October 2021 as Middle East war costs fed through to factory gates Employment intentions remained cautious despite rising order backlogs, which increased for a third straight month across all sub-sectors, with investment goods producers seeing the sharpest build-up Business sentiment improved from March and ran above the two-year average, with RatingDog founder Yao Yu attributing the recovery to order growth and price-effect optimism Nomura pushed back its forecasts for PBOC easing, including a 50 basis point RRR cut and a 10 basis point rate cut, to 2027, citing the economy’s resilience and the central bank’s preference for low-profile measures China’s Q1 GDP grew 5%, at the top of its 4.5-5% target range, with ample oil reserves and a diversified energy mix cited as key buffers against the Middle East shock China’s manufacturing sector expanded at its fastest pace since late 2020 in April, with the private RatingDog PMI compiled by S&P Global rising to 52.2 from 50.8 in March, comfortably beating the…