China April flash HSBC PMI contracts to one-year low

April 23, 2015 2:24 AM

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China April flash HSBC PMI contracts to one-year low

SHANGHAI (Reuters) - China's factory activity contracted at its fastest pace in a year in April, a private survey showed, suggesting that economic conditions are still deteriorating despite increasingly aggressive policy easing by the central bank.

The flash HSBC/Markit Purchasing Managers' Index (PMI) fell to 49.2 in April, below the 50-point level that separates growth in activity from a contraction on a monthly basis.

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