MNI BRIEF: China May Mfg. PMI Contracts To Three-Month Low
China's PMI fell below breakeven over May.
China's manufacturing Purchasing Managers' Index dropped by 0.9 points to 49.5 in May, falling below the breakeven 50 level after expanding for two consecutive months, tamed by weak demand and the high base formed by rapid manufacturing growth earlier, data from the National Bureau of Statistics showed Friday.
The production sub-index fell 2.1 points to 50.8, still above the 50 mark. However, the new orders and new export orders sub-indexes fell 1.5 and 2.3 points, to 49.6 and 48.3.
Non-manufacturing PMI registered 51.1, about the same as last month's 51.2. The business activity index in the service sector increased by 0.2 points to 50.5, with telecommunications and entertainment services standing above 55.0 but the capital market and real estate continued to run at low levels, the NBS said.