FOREX TradingCharts.com

Financial News: China's Manufacturing Sector Expands As Covid-19 Restricti

China's Manufacturing Sector Expands As Covid-19 Restrictions Ease

06/01/2020 - 01:41:00 (RTTNews)

(RTTNews) - China's manufacturing sector returned to expansion zone in May driven by the easing of restrictions related to the coronavirus, or Covid-19, pandemic, survey results from IHS Markit showed Monday.

The headline manufacturing Purchasing Managers' Index rose to 50.7 in May from 49.4 in April.

The latest score above 50.0 indicates a renewed improvement in overall operating conditions but the pace of expansion was only marginal.

It appears that growth has returned to the manufacturing sector, but new export orders and imports were still in contraction, ING economist Iris Pang, said. A recovery in manufacturing and employment in some sectors remains challenging.

According to official PMI survey, released over the weekend, the factory PMI dropped to 50.6 in May from 50.8 in April. Meanwhile, the non-manufacturing PMI advanced to 53.6 from 53.2.

Manufacturers reported an increase in output following a record fall in February, due to the resumption of work. The pace of growth was the fastest since January 2011.

However, total new work declined again as there was a historic fall in external demand in May.

A lack of new orders drove the first fall in backlogs of work since February 2016. At the same time, the resumption of production led to a renewed increase in buying activity.

The employment sub-index rebounded in May but it remained in negative territory.

Supply chains stabilized following severe disruptions in prior months due to restrictions related to the Covid-19 pandemic.

Manufacturers signaled a third successive monthly fall in average input costs, while factory gate prices were little-changed from the previous month.

Business confidence picked up in May, with firms generally optimistic that output will rise over the next year.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


European Economics Preview: Germany Factory Orders Data Due (44 min(s), 05 sec(s) ago)
(RTTNews) - Factory orders from Germany and retail sales from euro area are due on Monday, headlin ...Full Story»

Hong Kong Private Sector PMI Improves To 49.6 In June - IHS Markit (59 min(s), 05 sec(s) ago)
(RTTNews) - The private sector in Hong Kong continued to contract in June, albeit at a much slower ...Full Story»

Australia Inflation Forecast On Tap For Monday (14 min(s), 05 sec(s) ago)
(RTTNews) - Australia will on Monday see June data for job ads from ANZ and for the inflation fore ...Full Story»

Spain's Service Sector Returns To Growth (58 min(s), 05 sec(s) ago)
(RTTNews) - Spain's service sector returned to growth in June following the unprecedented decl ...Full Story»

South Africa Private Sector Downturn Slows In June (36 min(s), 05 sec(s) ago)
(RTTNews) - South Africa's private sector contracted at a softer pace in June as the governmen ...Full Story»

Turkey Consumer Price, Producer Price Inflation Rises In June (30 min(s), 05 sec(s) ago)
(RTTNews) - Turkey's consumer prices and producer price inflation increased in June, figures f ...Full Story»

Italy's Service Sector Downturn Eases In June (18 min(s), 05 sec(s) ago)
(RTTNews) - Italy's service sector continued to shrink in June but the pace of downturn eased ...Full Story»

Sweden Service Sector Rises In June (17 min(s), 05 sec(s) ago)
(RTTNews) - Sweden's services sector improved in June, survey data from Swedbank and the logis ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

European Economics Preview: Germany Factory Orders Data Due

07/05/2020 - 23:30 PM (RTTNews)
(RTTNews) - Factory orders from Germany and retail sales from euro area are due on Monday, headlin ...Full Story>>

Hong Kong Private Sector PMI Improves To 49.6 In June - IHS Markit

07/05/2020 - 20:45 PM (RTTNews)
(RTTNews) - The private sector in Hong Kong continued to contract in June, albeit at a much slower ...Full Story>>

Australia Inflation Forecast On Tap For Monday

07/05/2020 - 18:00 PM (RTTNews)
(RTTNews) - Australia will on Monday see June data for job ads from ANZ and for the inflation fore ...Full Story>>

Spain's Service Sector Returns To Growth

07/03/2020 - 08:44 AM (RTTNews)
(RTTNews) - Spain's service sector returned to growth in June following the unprecedented decl ...Full Story>>

South Africa Private Sector Downturn Slows In June

07/03/2020 - 08:22 AM (RTTNews)
(RTTNews) - South Africa's private sector contracted at a softer pace in June as the governmen ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.