China gives little sign of slowdown as PMIs hold up

SHANGHAI: China’s economy is giving little sign that a slowdown is approaching, with services strengthening and manufacturing remaining robust.

The official manufacturing purchasing managers index stood at 51.4 in April versus the 51.3 estimate in a Bloomberg survey and 51.5 last month. The non-manufacturing PMI, covering services and construction, rose to 54.8, the statistics bureau said Monday, beating estimates. Levels above 50 indicate improvement.

In the face of persistent threats to the trade outlook from a dispute with the US and the impact of a credit clampdown, policy makers have expressed fears that the economy could slow more sharply than the cyclical moderation that’s already anticipated.