China official PMI rises to 53.3 in April vs. 53.1

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China official PMI rises to 53.3 in April vs. 53.1 (by V. Phani Kumar)

HONG KONG (MarketWatch) -- Chinese manufacturing activity improved further in April from the previous month, an official survey showed Tuesday, signaling a "stabilization" of economic conditions at factories. The Purchasing Managers' Index rose to 53.3 in April, up from 53.1 in March, according to data from the China Federation of Logistics & Purchasing. A figure above 50 indicates an improvement in overall business conditions, while one below signals a deterioration. The latest PMI print compared with analyst expectations of 53.5, according to a survey from Dow Jones Newswires.

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