China Manufacturing Expansion Picks Up Speed, Caixin PMI Shows

China’s manufacturing sector expanded at the fastest pace in four months in April, driven by rapid growth in new orders and new job creation, a Caixin-sponsored survey showed.

The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives an independent snapshot of the country’s manufacturing sector, rose to 51.9 in April from 50.6 the previous month, according to a report released Friday. A number above 50 signals an expansion in activity, while a reading below that indicates a contraction.