China: Manufacturing activity improved in May

Data on Chinese factories and services improved in May as more cities across the country emerged from lockdown and officials took steps to stimulate a sluggish economy, although data showed a slowdown in economic activity. .

The official manufacturing index rose to 49.6 points in May from 47.4 points in April, compared to estimates for 48.9 points.

A number of indicators, including factory production, export orders and new orders, rose as production and demand for the manufacturing industry recovered to varying degrees, a statistician said.

“But the momentum of recovery needs to be strengthened,” he added.

The factory production index recovered to 49.7 points in May from 44.4 in April.

The new orders index strengthened to 48.2 points in May from 42.6 in April.

Similarly, the index recording the orders for exports recovered to 46.2 points in May, from 41.6 points in the previous month.

Separately, the services PMI rose to 47.8 points in May from 41.9 points in April. The index measuring service activity rose to 47.1 points in May from 40 points in April, while the index recording construction activity fell to 52.2 from 52.7 points.