China’s factory activity remained in expansion territory for the second consecutive month in April, in the latest sign that the economic recovery is picking up pace. The official manufacturing purchasing managers’ index (PMI) – a survey of sentiment among factory owners – stood at 50.4 in April compared to 50.8 in March, the National Bureau of Statistics (NBS) said on Tuesday. The figure remained above the watershed level of 50, which indicates expanding activity, after the reading in March had ended five consecutive months of contraction. {Chart} Meanwhile, China’s non-manufacturing PMI – a measurement of sentiment ... (full story)