Chinese factory output improves despite the Iran war
Surveys show China's factory activity expanded for a second month in April.
The National Bureau of Statistics said Thursday that the official manufacturing purchasing managers index slipped slightly to 50.3 from 50.4 in March on a scale of 0 to 100 where a reading above 50 indicates expansion.
However, a private survey showed manufacturing activity rising to 52.2 from 50.8 in March.
That was better than expected.
Analysts say higher oil prices due to the war with Iran have not yet weighed on Chinese industrial activity.
Elevated global oil prices are driving up global demand for green technology, benefiting China as it dominates the sector.
China factory activity expands
- China factory activity tops expectations in April — but growth slows as new orders soften CNBC —
- China’s factory activity expands for a second month despite shocks from the Iran war ABC News —
- China factory activity expands despite Iran war pressures The Straits Times —
- China’s factory activity expands for a second month despite shocks from the Iran war The Independent —
- China’s Factory Activity Expands Despite Pressures From War Bloomberg —