China: Manufacturing growth up, but export orders down.
China’s manufacturing output saw a marginal increase in April, due to the output speed increasing slightly. However, declining export orders also caused inventories to rise and firms to shed staff.
The Caixin/Markit Manufacturing Purchasing Managers’ index (PMI), which focuses on small and mid-sized businesses, climbed to 51.1 in April from a four-month low of 51.0 in March, and topped economists’ forecast for a modest slowdown to 50.9.
In terms of Steel, the S&P Global Platts China Steel Sentiment Index rose to a 25 month high, from 69.09 in March, to 82.78 in April, due to high seasonal demand coupled with pent up demand from winter constrictions on steel production.
“Overall, operating conditions across China’s manufacturing sector continued to improve in April,” Zhengsheng Zhong, director of Macroeconomic Analysis at CEBM Group, said in a note accompanying the survey.
“But uncertainty in exports has increased significantly, and the dependence of the Chinese economy on domestic demand is rising.”
Given the current trade disputes between China and the United States, the sub-index on export orders decreased for the first time since November 2016. An official PMI survey showed shipment orders slowing.
Softer demand could squeeze the profit margins of many Chinese firms, and there has already been slower investment growth and a subdued property market. So far, Beijing seems to have successfully balanced the impending debt risks with sustained growth. Economists predict China’s growth rate to be around 6.5% for 2018, in line with Beijing’s target.
Shanghai Metal Corporation is a trusted aluminum alloy, aluminum foil price, stainless steel price and stainless steel manufacturer, kinds of stainless steel in china.
SMC provides top quality metal related products, suitable to a wide range of applications, packaged to your individual needs. For more information about what we do, and our products, please visit our website here.
Guest contributors are welcome at the Alloy Wiki.It is a weekly wiki and guide on alloy information and processing technology, while also about the vast array of opportunities that are present in manufacturing. Our team of writers consists of a Machining Material Supplier / Machinist / Tool and Die Maker, a Biomedical Engineer / Product Development Engineer, a Job Development Coordinator / Adjunct Professor, and a President and CEO of a manufacturing facility.
Link to this article：China: Manufacturing growth up, but export orders down.
Reprint Statement: If there are no special instructions, all articles on this site are original. Please indicate the source for reprinting:Alloy Wiki，thanks