China�s manufacturing expands at slower rate

Beijing:An acceleration in China’s GDP growth in the first three months of 2017 as well as a rebound in retail spending and robust trade data have eased concerns about the strength of China’s economy following last year’s slowdown.China’s factory activity continued to expand in April, albeit at a slower-than-expected pace, official data showed Sunday, adding to signs of stabilisation in the world’s second largest economy.

The purchasing manager’s index (PMI), which gauges conditions at factories and mines, stood at 51.2 in April, the National Bureau of Statistics (NBS) said, down from a near five-year high of 51.8 in March.Analysts surveyed by Bloomberg had expected a reading of 51.7 for April.