China manufacturing activity expands the fastest in two years

Upbeat sentiment: Workers at an automotive aluminium wheel hub factory in Binzhou city in east China’s Shandong province. Exporters saw new orders rising for the fifth straight month in May. — AP

BEIJING: China’s manufacturing activity expanded at the fastest pace in almost two years in May, according to a private survey, contrasting with weak official data that dented the country’s growth outlook.

The Caixin manufacturing purchasing managers’ index (PMI) rose to 51.7 last month from 51.4 in April, slightly above the median forecast of 51.6 by economists in a Bloomberg poll and the highest since June 2022.