China's PMI fell to 50.4 in May

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Source: Marketwatch
China's manufacturing activity slowed down in May, after growing for five months in a row. The PMI lost 2.9 points, approaching 50.4 in May as compared to April's figure of 53.3, according to China's Bureau of Statistics. Reading above 50 indicates expansion. Meanwhile, HSBC reported that its PMI estimate shank to 48.4 in May, being weaker than initial reading of 48.7. The fall in PMI was sharp, indicating essential downside risk for China's economy, said Xianfang Ren and Alistair Thornton, economists from IHS Global Insight.


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Fri, 01 Jun 2012 07:19:09 GMT

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