China PMI at 51.8 in May, Exceeds Expectations Despite Slowdown

AI Summary

China's manufacturing activity, as measured by the RatingDog China General Manufacturing Purchasing Managers' Index, came in at 51.8 in May, exceeding the 51.6 anticipated by a Reuters poll. This marks a decline from April's 52.2, indicating a slower pace of improvement. The official manufacturing PMI fell to 50, the lowest since February, reflecting subdued growth while new export business showed a slight decline. Despite mixed signals in manufacturing, optimism persists among manufacturers for growth over the next 12 months, influenced by new product launches and improved production capacity.