China's Purchasing Managers' Index (PMI) for the manufacturing sector fell to 50.6 percent in April from 50.9 percent in March, the China Federation of Logistics and Purchasing (CFLP) said on May 1.
It was the seventh consecutive month that the PMI figure stayed above 50 percent, which demarcates expansion from contraction, according to a statement of the CFLP.
Although the PMI remains generally stable, the slight retreat indicates slower growth in the manufacturing sector and the need for a stronger momentum in China's economic growth, according to the statement.
The April PMI showed the foundation for China's economic recovery is not solid enough, said Zhang Liqun, an analyst from the Development Research Center of the State Council, China's cabinet.
The decline in orders caused a fall in the inventory level, and a sharp drop in the sub-index for purchasing prices of raw materials suggests the corporate confidence was undermined, Zhang said, stressing that efforts should be made to stabilize domestic demand.
The HSBC Flash China Manufacturing PMI also slowed to a two-month low of 50.5 in April, according to figures released by HSBC on April 23. |