Falling Exports Cut Chinese Manufacturing In April, Dragging Down Its Purchasing Managers Index, Signaling Slowing Growth

Declining exports slowed manufacturing in China during April, underscoring an emerging weakness in the world’s second-biggest economy.

The government’s purchasing managers' index (PMI) slipped to 50.6 in April from March’s 50.9, which was an 11-month high. A reading above 50 signals growth, and a reading below 50 means that manufacturing activity shrank.

"Overall, my general feel is that China is growing but slower than people expected, say, a month ago," Alvin Pontoh, economist at TDSecurities in Singapore, told Reuters.

"But I don't think this is reason for alarm ... this is probably what the new administration is looking for. Structurally, China cannot grow at 9 or 10 percent anymore, so over the next few years, you'd reasonably expect growth to edge lower to, say, 7 percent or so.”