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MNI BRIEF: Caixin China May Manufacturing PMI Rebounds

MNI (Singapore)
BEIJING (MNI)

Caixin China's manufacturing PMI for May rose 2.1 points on month to 48.1, below the breakeven 50 level for the third straight month, as the impact of Covid-19 outbreaks on manufacturing activities marginally eases, financial publisher Caixin said on Wednesday.

Both the production and new order sub-indices rebounded slightly but still lingered in the contraction territory, with Covid-19 curbs in place affecting business operations and logistics. Overseas demand continued to be sluggish, with the new export order sub-index below 50 for ten consecutive months, said Caixin.

Caixin's PMI tracks small and medium-sized manufacturers, while the official PMI also covering large state-owned companies and released on Tuesday also rose 2.2 points to 49.6 in May from April.

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