Economist sees China’s growth close to year’s peak

Manufacturing purchasing managers index fell to 51.2 in April from an almost five-year high of 51.8 in March, missing the median estimate of 51.7 in a Bloomberg survey and falling short of all projections. Non-manufacturing PMI dropped to a six-month low of 54 from 55.1 last month

BEIJING: China’s official factory and services gauges pulled back from multi-year highs, dimming the outlook for the sustainability of the past two quarters’ acceleration in economic growth.

Manufacturing purchasing managers index fell to 51.2 in April from an almost five-year high of 51.8 in March, missing the median estimate of 51.7 in a Bloomberg survey and falling short of all projections. Non-manufacturing PMI dropped to a six-month low of 54 from 55.1 last month.