Caixin’s PMI Hits Lowest Point Since September

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The latest purchasing managers index published by Chinese financial news provider Caixin marks a seven month low.

Caixin’s PMI for April is 50.3, for a decline of 0.9 percentage points compared to the preceding month, and the lowest reading since September last year.

While the Caixin reading was lower than the official figure of 51.2 provided by China’s National Bureau of Statistics, the general trend is consistent, with the government PMI for April falling by 0.6 percentage points compared  to March.

According to Caixin key factors for the PMI dip include easing growth in output and new orders across the Chinese economy.

The productivity index has declined for two successive months, while growth in new orders has fallen to its lowest level since September last year in tandem with ailing growth in new export operations.

Manufacturing employment in China has also continued to contract, as factories cut costs and refrain from filling in vacancies once employees resign voluntarily.

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