4月PMI数据点评：三类行业继续保持扩张态势

Manufacturing Sector - The manufacturing PMI for April is 49.0%, down from 50.5% in the previous month, indicating a contraction[4] - The production index decreased to 49.8%, a drop of 2.8 percentage points from 52.6%[4] - The new orders index fell to 49.2%, down from 51.8%[4] - The new export orders index is at 44.7%, down from 49.0%[4] - The employment index is at 47.9%, slightly down from 48.2%[4] Other Sectors - The construction sector's business activity index is at 51.9%, a decrease of 1.5 percentage points from the previous month[4] - The services sector's business activity index is at 50.1%, down by 0.2 percentage points[4] - The composite PMI output index is at 50.2%, a decline of 1.2 percentage points but still above the critical point[4] High-Tech Manufacturing - High-tech manufacturing continues to expand with an index of 51.5%, significantly above the overall manufacturing level[5] - The production and new orders indices for high-tech manufacturing are both above 52.0%[5] Infrastructure and Policy Support - The civil engineering business activity index rose to 60.9%, an increase of 6.4 percentage points, indicating accelerated project construction[6] - The government plans to expedite funding for infrastructure projects, aiming to finalize the 2025 project list by the end of June[6] Consumer Services - The consumer services sector remains robust, with indices for air transport, entertainment, and related services all above 50%[7] - Future policies will focus on boosting service consumption to enhance economic growth[7]