中国制造业增速放缓意味着经济增速降低 [美国媒体]

China’s manufacturing sector slows in sign of weakening growth

中国制造业增长放缓意味着经济增速降低



Activity in China’s vast manufacturing sector eased in April as export orders slowed in another sign of ebbing economic growth, while a simmering Sino-US trade row heightened risks for the industrial sector.

4月份中国庞大的制造业活动有所放缓同时出口订单减少，这是经济增长放缓的重要迹象，而不断升温的中美贸易争端也加大了中国工业面临的风险。

The official Purchasing Managers’ Index (PMI) released on Monday fell to 51.4 in April, from 51.5 in March, but remained well above the 50-point mark that separates growth from contraction on a monthly basis. It marked the 21st straight month of expanding business conditions in China.

周一官方公布的采购经理人指数（PMI）从3月份的51.5回落至四月的51.4，但仍远高于一个月内经济增长与收缩的50点。 这标志着中国商贸活动连续第21个月持续扩大。

Analysts surveyed by Reuters had forecast the index would ease slightly to 51.3.

路透社分析师之前曾预测该指数将小幅回落至51.3.

But the softer reading, especially the slower export orders, adds to concerns about an expected loss of momentum in the world’s second-largest economy as policymakers navigate debt risks and a heated trade row with the United States.

但这一数据的疲软尤其出口订单增速放缓以及政策制定者应对债务风险和经济过热的同时还在应对与美国的贸易纠纷等不利条件加剧了人们对全球第二大经济体经济增速放缓的担忧。

“The support to the economy from the easing of pollution controls should now largely have run its course,” said Chang Liu, China economist at Capital Economics in a note to clients.

凯投宏观中国经济学家刘昌在给客户的一份报告中表示：“现在放松污染控制对经济增长的利好已经走到尽头。”

“Slower growth is likely in the months ahead as the drags on economic activity from weaker credit growth and the cooling property market intensify.”

“未来几月经济增长可能会放缓，而信贷增长疲软和房地产市场降温对经济活动的拖累也会加剧。”

Beijing is in the third year of a broad effort to curb a dangerous build up of debt across the economy and so far policymakers appear to have successfully steered through the challenge of tempering financial risks without imperilling growth.

北京遏制整体经济中的债务积累已经走到了第三个年头，到目前为止政策制定者似乎已经在不危及增长的前提下成功控制住了短期金融风险。

The subindex for output remained flat at 53.1, while total new orders eased to 52.9 from 53.3.

产出分项指数维持在53.1，新订单指数从53.3回落至52.9。

The still strong tech sector, which burnished China’s solid exports growth in 2017, could come under pressure as rising tensions between China and the United States threaten to hit billions of dollars in cross-border trade.

2017年度在中美不断加剧的数十亿美元规模贸易争端中中国出口强劲增长的高科技行业可能会感受到经济放缓的压力。

Signs of softness in the trade sector were already evident in the latest PMI, with the export orders subindex falling to 50.7 from 51.3.
Speculation is also growing that China is considering shifting its monetary policy to a looser bias as the threat of an all-out trade war with the United States clouds the outlook for key growth drivers of both China’s “old economy” heavy industries and “new economy” tech firms.

最新出炉的采购经理人指数已显示出贸易走软的迹象，出口订单分项指数从51.3降至50.7。
还有越来越多的猜测认为，中国正考虑将其货币政策转向更宽松，因为与美国爆发全面贸易战的前景影响到了经济增长的关键动力——中国“旧经济”重工业和“新经济”科技企业。

The services industry showed “steady development”, China’s National Bureau of Statistics said in a statement. The official services PMI rose to 54.8 from 54.6 in March, extending a solid run of activity.

中国国家统计局在一份声明中表示服务业呈现出“稳步发展”的态势。官方服务业PMI从3月份的54.6上升至54.8，延续着强劲势头。

The services sector accounts for over half of China’s economy, with rising wages giving Chinese consumers more spending power.
The composite PMI covering both manufacturing and services activity rose to 54.1 in April, from March’s 54, well above the 50-mark that separates expansion from contraction.

服务业占到中国经济总体一半以上，不断上涨的工资水平也给了中国消费者更强大的消费能力。
4月份，涵盖制造业和服务业活动的综合采购经理人指数(PMI)从3月份的54升至54.1，远高于经济扩张与收缩拐点的50大关。