China’s manufacturing PMI up in May, but weakness remains
Economists commented that persistently weak manufacturing remains in China due to subdued demand and increasing job cuts, which necessitates the government to take more stimulus measures in order to boost the slowing economy.
HSBC’s index also showed that manufacturing fell for the first time in May to a 13 month low of 48.4 while orders for new exports declined to a reading of 46.8, posting the lowest reading seen in almost two years.
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