Chinas official factory gauge showed the nations economic rebound stabilized in April as a property recovery and credit surge helped to revive the nations growth engines. The manufacturing purchasing managers index stood at 50.1 last month, the nations statistics agency said Sunday, compared with 50.2 in March and a median estimate of 50.3 in a Bloomberg News survey of economists. The non-manufacturing PMI was at 53.5, compared with 53.8 in March. Numbers higher than 50 indicate improving conditions. The data suggests a strong recovery in factory, investment and retail data in March wasnt just a post-lunar new year holiday blip. The … (full story)
