China private survey PMIs
China's services PMI 44.4 in April
- 43 in March
- third straight month of contraction
- new export orders shrank further, declining at the second-fastest rate on record
- overall new business lower
- backlogs of work declined again as orders dried up
- reduction in payrolls for the third month at the fastest pace on record in April
"The second shockwave for China's economy brought about by shrinking overseas demand should not be underestimated in the second quarter," said Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group.
