Export orders continue decline.
May 1, 2013
by The Canadian Press
BEIJING – An industry group says manufacturing growth in China slipped in April as exports continued to decline, raising questions about the strength of recovery in the world’s second-biggest economy.
The China Federation of Logistics and Purchasing said its purchasing managers’ index for April declined to 50.6 points from 50.9 points in March. Numbers above 50 indicate an expansion, on a 100-point scale.
Federation economist Zhang Lijun said export orders, prices and other indicators have been declining steadily.
He says that given these factors, future economic growth might “decline slightly.”
China’s economic growth unexpectedly slowed in the first quarter of this year, indicating its economic recovery is fragile.
©The Canadian Press