China Caixin Manufacturing PMI for April 2025 50.4 (expected 49.9, prior 51.2)

China Caixin Manufacturing PMI for April 2025 comes in lower than March but better than expected at 50.4

• expected 49.9, prior 51.2

The details, though …. slowing demand, falling export orders, and rising trade tensions knocked China’s factory momentum in April, with sentiment near record lows.

• Demand & Output: New orders rose only slightly; export orders dropped at the fastest pace since July 2023 due to U.S. tariffs. Output remained in expansion for an 18th month.

• Employment: Jobs shrank again after a brief rebound in March — layoffs most common in investment and intermediate goods sectors.

• Prices: Input costs declined for a second month, driven by weaker commodity prices; firms cut output prices for a fifth straight month.

• Logistics & Inventory: Supply chains faced delays linked to trade tensions; firms ran down inventories amid weak demand.

• Business Confidence: Optimism dropped sharply, hitting the third-lowest level on record, with firms citing trade uncertainty.

• Policy Outlook: Early-year momentum is fading; analysts warn tariff shocks will weigh on growth in Q2–Q3, urging faster policy support.

Earlier from China, the official PMIs:

• China April official Manufacturing PMI 49.0 (expected of 49.5)

This article was written by Eamonn Sheridan at www.forexlive.com.