The manufacturing sector in China moved further into contraction territory in April, the revised survey from HSBC Bank showed on Monday, with a PMI score of 48.9.
That missed forecasts for 49.4, and it’s down from last month’s preliminary reading that suggested a score of 49.2.
It’s also down from the March score of 49.6, and it moves further beneath the boom-or-bust score of 50 that separates expansion from contraction.
Individually, output was stagnant as total new business declined at faster rate. There was a slight upturn in new work from abroad, the data showed, although input and output prices both decline at stronger rates.
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