(Bloomberg) -- A gauge of activity at China’s manufacturers remained robust as services strengthened for a second month, signaling that the economic expansion is intact.
The manufacturing purchasing managers index stood at 51.4 in April versus the 51.3 estimate in a Bloomberg survey and 51.5 last month. The non-manufacturing PMI, covering services and construction, rose to 54.8 the statistics bureau said Monday, beating estimates. Levels above 50 indicate improvement.
Factories are holding up even as debt curbs and a trade dispute with the U.S. add uncertainty to the outlook. The trade spat, easing inflation and cooling investment may weigh on manufacturing activities, with the economy forecast to slow this year.
"The numbers are pretty solid," Zhu Haibin, chief China economist at JPMorgan Chase & Co (NYSE:JPM). in Hong Kong told Bloomberg Television after the report. "This news suggests growth momentum is still fine," though risks still remain, he said.
(Corrects to remove incorrect month reference in headline.)
To contact Bloomberg News staff for this story: Xiaoqing Pi in Beijing at xpi1@bloomberg.net
To contact the editors responsible for this story: Jeffrey Black at jblack25@bloomberg.net, Jeff Kearns
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