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External broker reports(aggregated public sources)

Macroeconomics

<ul><li>Earlier today, China’s manufacturing PMIs for April came in slightly better than expected, both staying above the neutral 50 mark separating expansion from contraction.</li><li>The official PMI published by NBS dropped back to 50.4 (March: 50.8, consensus: 50.3). This followed a jump in March that brought the index back in expansion territory for the first time since September 2023 and closed the gap with the equivalent index from Caixin.</li><li>Caixin’s manufacturing PMI rose further to a fourteen month high of 51.4 in April (March: 51.1, consensus: 51.0). </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Earlier today, China’s manufacturing PMIs for April came in slightly better than expected, both staying above the neutral 50 mark separating expansion from contraction.The official PMI published by NBS dropped back to 50.4 (March: 50.8, consensus: 50.3). This followed a jump in March that brought the index back in expansion territory for the first time since September 2023 and closed the gap with the equivalent index from Caixin.Caixin’s manufacturing PMI rose further to a fourteen month high of 51.4 in April (March: 51.1, consensus: 51.0). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China: April PMIs Point to Imbalances and Supply-Side Dominance