(IHS Markit) The headline Business Activity Index in China was posted at 36.2 in April, compared to March’s 42.0. The decline was the second-sharpest on record, only behind February 2020.
The slump in China’s business activity reflected the Covid-19 containment measures. The restrictions led to the second-fastest decline in service activity and new orders.
Employment within the service sector fell marginally in April, although the rate of job creation remained resilient.
Firms noted a softer rise in input costs in April. The prices charged went lower for the first time in eight months as firms lowered fees to attract customers amid lower demand conditions.
The level of business confidence improved slightly in April, contributed by expectations of more activity as Covid-19 restrictions ease. Improved demand conditions also boosted optimism.
CSI 300 is down -0.15%, USDCNY is up +0.12%
