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.
Each time An Fu Ford, a dealership in the western Chinese city of Chongqing, sells a car, workers fire a confetti cannon, showering the parking lot with colorful scraps of paper. There’s a lot of paper to sweep up these days.
Two Chinese manufacturing indexes showed a slower-than-estimated pace of expansion, a signal the nation’s economic recovery may be losing steam.
China’s manufacturing expanded and input costs climbed, underscoring the case for more interest- rate increases to tame inflation pressures in the fastest- growing major economy.
A gauge of China’s manufacturing showed a third month of expansion, adding evidence that the recovery in the world’s second-biggest economy will extend into the new year.
Chinese manufacturing expanded in January, validating the nation’s reluctance to add to policy stimulus amid increasing inflation concern.
Chinese equities rose in New York, led by solar companies and consumer stocks, after Standard & Poor’s said Asia’s largest economy has “exceptional” growth prospects and reaffirmed its credit rating.
China’s official manufacturing index rose to the highest level in seven months as new orders and export demand climbed, underscoring optimism the economy is recovering after a seven-quarter slowdown.
Crude oil climbed to the highest in four days as increased profit forecasts drove Asian equities higher and investors grew more optimistic that China’s growth will bolster fuel demand.
China’s manufacturing grew at the slowest pace in 17 months in July as the government clamped down on property speculation and investment in energy-intensive and polluting factories.
"Western China holds enormous potential for automakers as incomes rise and more people can afford cars."
- Zhang Liqun on Apr 21, 2013