China's composite PMI stands at 53.3 in May
China's composite purchasing managers' index stood at 53.3 in May, down 0.1 percentage points from the previous month, as the country's corporate business activities remained basically steady, the National Bureau of Statistics (NBS) said Friday.
A reading above 50 indicates expansion, while a reading below reflects contraction.
The manufacturing Purchasing Managers' Index for May came in at 49.4, down from April's reading of 50.1, the NBS said.
The non-manufacturing PMI for May was 54.3, unchanged from a month earlier.
The PMI is a survey of businesses about the operating environment. Such data offer a first glimpse into what's happening in an economy, as they are usually among the first major economic indicators released each month.