China's Manufacturing PMI Holds Steady at 50.3 Amid Rising Exports
China's official manufacturing Purchasing Managers' Index (PMI) remained above the critical 50-point mark in April, registering at 50.3. This figure, although slightly down from March's 50.4, exceeded expectations of 50.1. The PMI is a key indicator of the economic health of the manufacturing sector, with a reading above 50 indicating expansion. Notably, export new orders returned to expansion for the first time in two years, climbing to 50.3 from 49.1. However, overall new orders fell to 50.6 from 51.6, primarily due to weaker domestic demand. Production saw a slight increase, moving up to 51.5 from 51.4. In contrast, non-manufacturing activity fell to 49.4 from 50.1, with the services index dropping to 49.6 and construction to 48.0, its lowest since 2010. 
