China HSBC PMI showed contraction in April

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Source: Marketwatch
© Scanpix/AP
Chinese production activity continued to fall in April, reported HSBC on Monday. The HSBC's preliminary figure of China's PMI soared to 49.1 in April from 48.3 in March. Although the activity has increased compared to March, it still is below 50, indicating contraction. Hongbin Qu, HSBC China chief economist claimed that better reading signals the previous State easing measures start to work. He also added, additional measures are needed. 
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