China's Manufacturing PMI Falls Below Neutral Mark

In a concerning sign for the world's second-largest economy, China's official manufacturing Purchasing Managers' Index (PMI) dropped to 49.0 in April, slipping below the neutral 50 mark. This decline from March's 50.5 indicates a contraction in the manufacturing sector, as reported by the National Bureau of Statistics (NBS) on Wednesday.

Non-Manufacturing and Composite PMI Also Show Decline

The non-manufacturing PMI, which gauges business sentiment in the services and construction sectors, also experienced a downturn, standing at 50.4 compared to the previous 50.8. Similarly, the official composite PMI, encompassing both manufacturing and services, decreased to 50.2 from last month's 51.4.

These figures highlight growing challenges in China's economic landscape, as key sectors show signs of slowing down.