0551 GMT - China PMIs for April reaffirm Morgan Stanley economists' view that economic growth could fall below 4.5% in 2Q. That would be down a full percentage point from 1Q, chief China economist Robin Xing and others write. "Factories are quickly losing orders under prohibitive tariffs," they say in a report, with new export orders and production both down in April. MS thinks the tariff impact will be the most acute this quarter, as many exporters have halted production and shipments to the U.S. While April's politburo meeting urged a faster deployment of already approved stimulus, MS says that China's overall policy framework remains reactive and supply-centric, and is insufficient to offset tariff shocks. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
April 30, 2025 01:51 ET (05:51 GMT)
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