A worker makes coloured chalk at a workshop in Xiaogan, Hubei province, on Tuesday.
((Photo: AFP)
BEIJING: China’s factory activity unexpectedly contracted in April as orders fell and poor domestic demand dragged on the sprawling manufacturing sector, a private survey showed on Thursday, imperilling the broader economic outlook for the second quarter.
The Caixin/S&P Global manufacturing purchasing managers’ index (PMI) fell to 49.5 in April from 50.0 in March. The 50-point index mark separates growth from contraction on a monthly basis.
The reading missed expectations of 50.3 in a Reuters poll and marked the first contraction since January when the exit from…
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