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China : China manufacturing contracts again in April: HSBC
Publish Date : 24-Apr-2012
China\'s manufacturing activity contracted for the sixth straight month in April, HSBC said on Monday, bolstering the case for the government to give a boost to the world\'s number two economy.
HSBC\'s purchasing managers index (PMI) - which measures factory output - was 49.1 in April, up from 48.3 in March, the British banking giant said in a statement.
But the reading remained below 50, indicating contraction in activity. A reading above 50 indicates expansion.
HSBC\'s chief economist for China, Qu Hongbin, put the data in a positive light, saying government measures to spur the economy were having an impact.
