China’s manufacturing expanded at a weaker pace in April in a sign that the slowdown in the world’s second-largest economy is extending into the second quarter.
The Purchasing Managers’ Index was at 50.6, the National Bureau of Statistics and China Federation of Logistics and Purchasing said today in Beijing. That compared with the 50.7 median forecast of 31 analysts in a Bloomberg News survey and a March reading of 50.9. Readings above 50 signal expansion.
Australian stocks fell and copper declined as the report increased concern that demand from China for commodities will slow. The figures add to data showing growth in industrial companies’ profits decelerated in March and Aluminum Corp. of China Ltd., the nation’s biggest producer of the lightweight metal, having a sixth straight quarterly loss.
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