Business
09:54, 31-May-2018
China May factory growth surpasses expectations, official PMI at 51.9
["china"]
Share
Copied
00:48
Fresh data from the National Bureau of Statistics (NBS), the purchasing managers' index (PMI) for China's manufacturing sector, came in at 51.9 in May, up from 51.4 in April.
The PMI is based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment.
Figures above 50 denote expansion in economic activity on a monthly basis, while sub-50 levels indicate contraction.
Meanwhile, China's non-manufacturing sector expanded at a faster pace in May, with the purchasing managers' index for the sector up from 54.8 in April to 54.9, as the manufacturing giant transitions to a services and consumption-driven economy, according to the NBS.