China official factory PMI rises to 51.9 in May, well above forecasts


A worker is seen working at a textile factory in Huaibei, in north China

BEIJING: China's manufacturing sector grew at the fastest pace in eight months in May, easing concerns about a slowdown in the world's second-biggest economy.

The official Purchasing Managers' Index (PMI) released on Thursday rose to 51.9 in May, from 51.4 in April, and remained well above the 50-point mark that separates growth from contraction for the 22nd straight month.

Analysts surveyed by Reuters had forecast the reading would dip marginally to 51.3.

The strong findings defy concerns about an expected loss of momentum in the world's second-largest economy, as policymakers navigate debt risks and a heated trade row with the United States.

The United States said on Tuesday that it would push ahead with imposing tariffs on $50 billion of imports from China and will use it unless Beijing addresses the issue of theft of American intellectual property. - Reuters

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

China , manufacturing , PMI , index , economy , forecasts ,

   

Next In Business News

MIDA, a vital instrument to remove obstacles for prospective investors - Tengku Zafrul
Ringgit easier against US dollar at closing
Alpha IVF remains committed to its growth strategy
Jentayu hopes to sign PPA for Sipitang hydropower plant by mid-year
Malaysia needs up to RM90bil to fund critical energy projects in next 10 years
GDEX to diversify into IT services and solutions
Bursa Malaysia collaborates with UK's MOBILIST to enable greater investment in energy transition
MIDA appoints Sikh Shamsul Ibrahim as CEO
Bursa Malaysia continues downtrend with over 1,000 counters in red
Asian bonds see first monthly outflow in five on easing US rate-cut hopes

Others Also Read