China’s factory activity expands for a second month despite shocks from the Iran war
China's factory activity expanded for a second straight month in April, with the official manufacturing purchasing managers index reading 50.3, better than economists' expectations. The economy remained resilient despite higher energy prices due to the Iran war, driven by strong export demand.
China's factory activity expanded for a second straight month in April, according to an official survey. The National Bureau of Statistics reported a manufacturing purchasing managers index of 50.3, down from 50.4 in March but better than expected. The new orders sub-index slowed to 50.6 from 51.6, while the production sub-index rose to 51.5. Higher oil prices have not weighed on industrial activity, driven by strong export demand. A private sector survey showed factory activity rose to 52.2 in April. China's economy expanded at a 5% annual pace in January-March, beating estimates. Chinese leaders have set a 4.5% to 5% economic growth target for 2026.
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