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China factory output growth slows

Output in China’s factories and mines continued to expand in April but at a slower pace than in the previous month.

The purchasing manager’s index (PMI) was 51.2 in April, the National Bureau of Statistics (NBS) said, down from a near five-year high of 51.8 in March. A figure above 50 shows growth in the sector, a key driver of wider growth in the world’s second biggest economy.

The first quarter of 2017 has seen an acceleration in China’s GDP growth as well as a rebound in retail spending. Robust trade data has also helped ease concerns about the strength of the economy following last year’s slowdown.