The Caixin China Composite PMI data (which covers both manufacturing and services) showed that growth of business activity across China picked up since March, but remained weaker than that seen at the turn of the year. At 52.3 in April, the Composite Output Index was up only slightly from a four-month low of 51.8 in March.

April survey data pointed to stronger increases in output across both the manufacturing and service sectors. Growth of services activity improved to a solid pace, although remained slower than that seen at the start of 2018.