Istanbul, April 30 () - Chinese manufacturing activity in April rose for the second consecutive month, reaching 50.2, according to an IHS Markit release published on Tuesday.
"In general, China’s economy showed good resilience in April, yet it stabilized on a weak foundation and is not coming to an upward turning point. The Politburo meeting signaled that in the first quarter of this year China had adjusted its countercyclical policy marginally. As pressure on the economy remains in the second quarter, we expect that there will be minor adjustments to the policy but not a turnaround" Director of Macroeconomic Analysis at CEBM Group Zhengsheng Zhong said.
The Caixin China Manufacturing Purchasing Managers' Index (PMI) didn't beat market-watchers' estimations for April which stood at 50.9 or the previous month's results of 50.8.
Despite these results, the country's manufacturing upturn marked an increase for the third month in a row, as did the new orders compared to March.
Average purchasing costs rose again in April despite a slight increase in the inflation rate, while the business confidence neared its highest level for a 12-month period.