China's manufacturing activity slows

China's massive manufacturing sector experienced a slight dip in activity in April, suggesting attempts by the government to prevent the economy overheating are having an impact.

The purchasing managers' index, which measures conditions in manufacturing, slipped to 52.9 in April from 53.4 in March. It is the 26th consecutive month that China's PMI reading has been above 50, which indicates growth in manufacturing activity. The Chinese government has also been tightening monetary policy to rein in inflation, and its input prices subindex, a measure of inflationary pressures, fell to 66.2 from 68.3 in March.