The Chinese Markit/Caixin manufacturing PMI fell to 49.4 in April from 49.7 in March. The decrease was driven by declines in total new orders and new export work. Output was little-changed, while employment continued to decline.
"The fluctuations indicate the economy lacks a solid foundation for recovery and is still in the process of bottoming out," Dr. He Fan, Chief Economist at Caixin Insight Group, said.
"The government needs to keep a close watch on the risk of a further economic downturn," he added.