Caixin China PMI landed at 52.5 in April, according to a report released by the S&P Global on Monday. This reading, surpassing the neutral 50 mark, signifies growth within the sector, even though the figure eased from the previous month's reading of 52.7.
Meanwhile, the Composite Output Index rose to 52.8 in April, up from 52.7 in March.
"Improved market demand drove a continuous increase in supply. Business activity and total new orders both grew for the 16th straight month, with the latter increasing at the fastest pace since May last year, indicating a solid resurgence in demand. The recovery of the global economy has resulted in an increase in inbound tourist numbers. This has helped produce an upward trend in service exports, allowing the corresponding gauge to stay in positive territory for the eighth consecutive month and hit the highest level since last June," Wang Zhe, Senior Economist at Caixin Insight Group said.
