China’s manufacturing PMI suggested that new export orders in April continued to decline, with the second largest drop after last year. In a survey conducted by inspectors from China’s Chamber of Commerce for Import and Export Mechanical & Electrical Products at this years’ Canton Fair, 500 companies were asked about their business outlook on international trade – many reported negative sentiment due both domestic demand constraints as well increased competition abroad since 2020 began. The study found that 47.2% of businesses had orders in hand as compared to the spring and autumn of the previous year. Only 12.6% of businesses reported an increase in year-on-year orders.
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