PMI Expands
China’s manufacturing sector ex-panded for the 10th straight month in May, an official survey showed on May 31.
The manufacturing purchasing managers’ index (PMI) came in at 51.2 in May, flat with April, ac- cording to data from the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP).
A reading above 50 indicates expansion, while a reading below reflects contraction.
The latest reading reaffirmed a stabilizing Chinese economy, said Zhang Liqun, a researcher with the Development Research Center of the State Council.
The sub-index for production stood at 53.4 in May, down from 53.8 in April, while the sub-index for new orders came in at 52.3 in May, unchanged from that in April.
Chen Zhongtao, an analyst at the China Logistics Information Center,…