The improvement in Chinese manufacturing sector conditions extended into the start of the second quarter, according to the latest PMI data. Greater new work inflows, including from abroad, supported faster output growth in April. As a result, manufacturers raised their purchasing activity and inventory holdings. That said, firms remained cautious with hiring even as backlogs accumulated. Average selling prices also declined even as input costs increased, whilst optimism in the future eased since March. The headline seasonally adjusted Purchasing Managers’ Index (PMI) – a composite indicator designed to provide a ... (full story)