China's Manufacturing PMI Exceeds Expectations but Growth Slows
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Should l Buy SPGI?
Source: CNBC
- Manufacturing Activity: China's official manufacturing PMI stands at 50.3, surpassing Reuters' expectation of 50.1, indicating continued expansion in the manufacturing sector, although growth has slowed from last month's year-high, suggesting resilience in the overall economy.
- Non-Manufacturing Contraction: The non-manufacturing PMI fell to 49.4 from March's 50.1, with both services and construction sectors contracting, reflecting weakness in domestic demand that could hinder future economic recovery.
- Composite PMI Decline: China's composite PMI dipped to 50.1 from 50.5 in March, indicating a weakening growth momentum in both manufacturing and services, although still within the expansion territory, suggesting some economic pressures.
- Raw Material Cost Pressures: While growth in new orders has slowed, elevated input prices, particularly oil sensitive to Middle Eastern tensions, could increase inflationary pressures, prompting policymakers to focus on boosting internal demand.
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Analyst Views on SPGI
Wall Street analysts forecast SPGI stock price to rise
15 Analyst Rating
14 Buy
1 Hold
0 Sell
Strong Buy
Current: 433.470
Low
546.00
Averages
617.77
High
675.00
Current: 433.470
Low
546.00
Averages
617.77
High
675.00
About SPGI
S&P Global Inc. provides essential intelligence. Its operations consist of five businesses: S&P Global Market Intelligence (Market Intelligence), S&P Global Ratings (Ratings), S&P Global Commodity Insights (Commodity Insights), S&P Global Mobility (Mobility) and S&P Dow Jones Indices (Indices). Market Intelligence is a global provider of multi-asset-class data and analytics integrated with purpose-built workflow solutions. Ratings is an independent provider of credit ratings, research, and analytics, offering investors and other market participants information, ratings and benchmarks. Commodity Insights is an independent provider of information and benchmark prices for the commodity and energy markets. Mobility is a provider of solutions serving the full automotive value chain, including vehicle manufacturers and retailers. Indices is a global index provider that maintains a variety of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Manufacturing Activity: China's official manufacturing PMI stands at 50.3, surpassing Reuters' expectation of 50.1, indicating continued expansion in the manufacturing sector, although growth has slowed from last month's year-high, suggesting resilience in the overall economy.
- Non-Manufacturing Contraction: The non-manufacturing PMI fell to 49.4 from March's 50.1, with both services and construction sectors contracting, reflecting weakness in domestic demand that could hinder future economic recovery.
- Composite PMI Decline: China's composite PMI dipped to 50.1 from 50.5 in March, indicating a weakening growth momentum in both manufacturing and services, although still within the expansion territory, suggesting some economic pressures.
- Raw Material Cost Pressures: While growth in new orders has slowed, elevated input prices, particularly oil sensitive to Middle Eastern tensions, could increase inflationary pressures, prompting policymakers to focus on boosting internal demand.
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