China’s factory activity fell to an 11-month low in May, a private survey showed on Thursday.

The Caixin/Markit Manufacturing Purchasing Managers’ index (PMI) fell to 49.6 in May, lower than a 50.1 forecast by analysts polled by Reuters and lower than April’s 50.3.

A reading above 50.0 indicates expansion in manufacturing while a reading below the level points to a contraction in activity.

On Wednesday, China’s official Purchasing Managers’ Index (PMI) for the month of May came in at 51.2 — higher than the 51.0 expected and even with 51.2 in April. Meanwhile, China’s official services PMI rose to 54.5 in May from 54.0 in April.

This is a breaking news story. Check back for updates.

Source

NO COMMENTS