Caixin manufacturing PMI falls to 50.3 in April

BEIJING - Manufacturing activity in China continued expansion in April, though at a slower pace, as a private survey showed Tuesday that an index for the sector declined from the previous month.

The Caixin China General Manufacturing Purchasing Managers' Index (PMI) stood at 50.3 last month, down from 51.2 in March, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media Co Ltd.

A reading above 50 indicates expansion, while a number below 50 points to contraction.

Official manufacturing PMI came in at 51.2 in April, expanding for the 9th straight month, according to the National Bureau of Statistics.