HSBC manufacturing PMI sluggish in April

China's manufacturing sector failed to make a strong comeback in April, while the service sector continued to expand, underscoring the changing growth pattern in the world's second-largest economy.

The final reading of the HSBC Holdings Plc and Markit Economics Purchasing Managers Index for April came in at 48.1, below the preliminary reading of 48.3 but up slightly from an eight-month low of 48.0 in March. It was the fourth month that the sector contracted.

The HSBC/Markit reading was in line with an earlier official PMI reading for April, both showing marginal improvement in the manufacturing sector. The official PMI, released by the National Bureau of Statistics and the China Federation of Logistics and Purchasing, rose to 50.4 from 50.3 in March, indicating a slight expansion.