China growth likely stable in April: report

China's economy is likely to have remained stable in April, with major indicators pointing to continued growth, according to a report by Standard Chartered Bank.

The Central Business District area in east Beijing. [Photo: IC]

The official manufacturing purchasing managers' index (PMI) came in at 51.4 in April, down from 51.5 in March, suggesting solid performance, the report said. 

The production sub-index was flat at 53.1, indicating stable production activity. The bank predicted industrial production growth would pick up to 6.5 percent year on year in April from 6 percent in March.

Retail sales growth is likely to have remained resilient while exports may have recovered in April, according to the report.

Consumer price index (CPI) growth is likely to have eased in April to an annualized 2 percent, down from 2.1 percent in March, while producer price index (PPI) is likely to have picked up to 3.4 percent after slowing for five consecutive months, the report said.

Official CPI and PPI figures for April will be released next week. Major indicators, including retail sales and industrial output growth, are due on May 15.