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China manufacturing grows modestly in April: govt

Workers produce toys in a factory in Lianyungang, east China's Jiangsu province in April 2015China’s manufacturing activity expanded modestly in April for the second straight month but the rate of growth failed to accelerate, the government said Friday, as the world’s second-largest economy struggles to pick up steam. The official Purchasing Managers’ Index (PMI) released by the National Bureau of Statistics came in at 50.1 last month, the same result as March when the gauge showed growth for the first time this year. January’s reading of 49.8 was the first shrinkage in more than two years and added to worries about China’s economic outlook. China’s economy, a key driver of global growth, expanded 7.0 percent in the first quarter of 2015, against 7.3 percent in the final three months of last year, in the worst result since 2009 at the height of the global financial crisis.

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