Indicating an expansion in China's manufacturing sector, the CLSA Purchasing Managers Index, or PMI, rose in April for the first time in nine months.
Monday, reports said citing CLSA Asia-Pacific Markets that the PMI rose to 50.1 in April from 44.8 in the prior month. A reading above 50 suggests expansion in the manufacturing activity.
Among the sub-indicators, the export order index climbed to 48.8 in April from 41.4 in March and the output index rose to 51.3 from 44.3. The employment index was at 50.9, up from 47.1.
The increase was consistent with the official PMI, released by the China Federation of Logistics and Purchasing on behalf of the National Bureau of Statistics on May 1. It rose to 53.5 in April from 52.4 in March, above the 50-mark for the second straight month.
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