China's official Purchasing Managers Index (PMI) fell to 52.0 in May from 52.9 in April, the China Federation of Logistics and Purchasing, which issues the data with the National Bureau of Statistics, revealed earlier this morning. May's decline in the PMI indicates manufacturing growth slowed for the second consecutive month after briefly accelerating in March. A PMI reading above 50 indicates an expansion in manufacturing activity, while a reading below 50 indicates contraction. Another closely watched PMI, the final HSBC China manufacturing PMI, will be issued later today. The preliminary HSBC China PMI, which was issued May 23, fell to a 10-month low of 51.1 in May from a final reading of 51.8 in April.
China's official Purchasing Managers Index (PMI) fell to 52.0 in May from 52.9 in April, the China Federation of Logistics and Purchasing, which issues the data with the National Bureau of Statistics, revealed earlier this morning. May's decline in the PMI indicates manufacturing growth slowed for the second consecutive month after briefly accelerating in March. A PMI reading above 50 indicates an expansion in manufacturing activity, while a reading below 50 indicates contraction. Another closely watched PMI, the final HSBC China manufacturing PMI, will be issued later today. The preliminary HSBC China PMI, which was issued May 23, fell to a 10-month low of 51.1 in May from a final reading of 51.8 in April.
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Hexun.com
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