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Financial News: China Manufacturing PMI Improves To 48.1 In May

China Manufacturing PMI Improves To 48.1 In May - Caixin

05/31/2022 - 21:48:00 (RTTNews)

(RTTNews) - The manufacturing sector in China continued to contract in May, albeit at a slower pace, the latest survey from Caixin revealed on Wednesday with a manufacturing PMI score of 48.1.

That's up from 46.0 in April, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

Helping to move the headline index upwards was a softer reduction in production during May. The rate of contraction eased notably compared to that seen in April, though was nonetheless the second-sharpest recorded since February 2020. Where lower output was reported, firms often attributed this to the ongoing pandemic and subsequent restrictions that had disrupted operations and logistics.

Total new orders fell for the third month running, albeit at a reduced rate. Notably, the latest drop in sales was the slowest seen over this period and only mild, with some firms noting a relative improvement in demand conditions since April.

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