30.04.201800:49:00UTC+00China Manufacturing PMI Eased in April

China's official gauge of manufacturing growth slipped only slightly lower in April, despite broad expectations that the solid growth seen during the first quarter was likely to dissipate soon.

The manufacturing purchasing managers' index published by China's National Bureau of Statistics dropped 0.1 points to 51.4 in April, slightly closer to the 50-point line separating growth from contraction.

A sub-index tracking factory gate prices soared 1.3 points to 50.2, returning to growth after two months of contraction, and that for output was steady at 53.1.

However, a reading on new orders fell 0.4 points to 52.9 as that for new export orders dropped 0.6 points to 50.7.

Elsewhere in the economy, the official non-manufacturing PMI increased 0.2 points to 54.8 as a key sub-index tracking services sector growth edged up the same amount to 53.8. That for construction dropped 0.1 points to 60.6.

An independent reading on China's manufacturing sector is scheduled for release on Wednesday in the form of the Caixin-Markit manufacturing PMI. This gauge follows smaller and private companies, in contrast to the larger, state-owned enterprises on which the official PMIs focus.