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China’s manufacturing PMI up in May, but weakness remains

by ChemOrbis Editorial Team -
  • 21/05/2015 (13:22)
According to a preliminary purchasing managers’ index (PMI) compiled by HSBC, China’s manufacturing activity increased to a reading of 49.1 in May from April’s final reading of 48.9. However, May PMI fell below economists’ initial estimates which called for a reading of 49.3 in a survey by Reuters. Any reading below 50 indicates a contraction.

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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