The April 2024 China Manufacturing PMI report shows that 9 out of 13 sub-indices were lower than their respective levels in March. The new orders index declined by 1.9 points, indicating slower market demand and external demand. The imports index went down by 2.3 points, returning to the contractionary territory. The output index increased by 0.7 points, pointing to faster growth in manufacturing production. The input prices index jumped by 3.5 points, indicating sustained cost pressures on enterprises. The ex-factory prices index rose by 1.7 points, indicating that ex-factory prices started to stabilize.