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Economy

China's April factory activity expands for 2nd month

More businesses resume work after the coronavirus-led shutdowns

The Purchasing Managers' Index stayed above the neutral 50-point mark that separates growth from contraction on a monthly basis.    © Reuters

BEIJING (Reuters) -- Factory activity in China expanded for a second straight month in April, as more businesses resumed work after the coronavirus-led shutdowns, though worldwide lockdowns and sliding global demand are set to hamper a recovery in the embattled economy.

The Purchasing Managers' Index (PMI) dropped to 50.8 in April from 52 in March, China's National Bureau of Statistics said on Thursday, and above the neutral 50-point mark that separates growth from contraction on a monthly basis.

Analysts polled by Reuters had expected a reading of 51.

Most China watchers expect a sustainable bounce is some way off due to rising layoffs and slowing demand as many major economies grapple with lockdowns to control the COVID-19 pandemic.

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