China’s RatingDog general manufacturing PMI rose to 52.2 in April, the highest
since 2021, signaling solid expansion in both production and demand, according to
to S&P Global/RatingDog.
Founder Yao Yu said growth was driven by stronger new orders — including
sustained expansion in export orders — alongside rising prices, which supported
output and inventory rebuilding. Firms increased purchasing for a fourth
straight month, with input inventories rising for five consecutive months.
However, employment slipped back into contraction, highlighting a “jobless
recovery” risk. Rising input costs — driven by higher raw material and oil
prices — pushed output prices higher at the fastest pace in over four years,
with cost pressures increasingly passed on to customers.
