Statistics China Business Activity and Economic Activity

economic activity: Statistics on China business activity have stimulated recovery in the oil market in the first days of May, according to Russia Today. Earlier on Monday, HSBC Bank published data on the business activity index of China showing that the April index had fallen to 48.9 points from 49.2 points in March. Current oil prices show a positive trend amid expectations that higher-cost crude producers such as the United States will cut oversupply, and that economic growth will resume in China, one of the largest importers of oil. An index above 50 points indicates a growth in economic activity, anything lower signals a downturn. What the market really wants to see is supply being cut to match the demand level," said Ric Spooner, chief market analyst at Sydney CMC Markets, quoted by Reuters. However, the weak data revived investor hopes that the Chinese authorities will take stronger measures to stimulate the economy."The Chinese data is weaker but it seems the oil market has had a limited reaction. (news.financializer.com). As reported in the news.