Official PMI Data Holds Steady in May
The latest official PMI data coming out of China indicates that demand in May held steady with April.
The PMI figure released by China’s National Bureau of Statistics on 31 May was 51.2, marking the tenth successive month that the index has remained above the positive threshold.
Export orders, backlog orders, raw material inventories, employed personnel and manufacturing activity expectations all saw slight gains, while new orders remained commensurate with the preceding month.
Completed product inventories, raw material procurement prices and factory prices all saw declines of more than 1 percentage point, while the production index fell by 0.4 percentage points compared to April to 53.4.