Chinese Manufacturing Activity Drops Slightly in April

China says its manufacturing activity declined in April as the novel coronavirus pandemic took hold and ground nearly all global economic activity to a halt.The National Bureau of Statistics issued a report Thursday saying the Purchasing Managers’ Index fell to 50.8 last month, compared to 52 back in March.  Any number below 50 represents a contraction in activity.Beijing brought all economic and personal activity to a standstill in February in an effort to halt the spread of the virus, which was first detected last December in the central city of Wuhan. The government has gradually lifted those restrictions as the number of new infections has slowed, but the economy continues to struggle due to a lack of demand in the United States and Europe, where millions of citizens remain under some form of quarantine.The statistics bureau also reported the non-manufacturing PMI, which covers activity in services such as accommodation, sports and entertainment, was at 53.2 in April, a full one point rise from March.

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