China's Caixin PMI for May in line with expectations, 3-month low
China's Caixin PMI for May came at 49.2, in line with expectations representing a 3-month low, with the official report noting that the health of China’s manufacturing sector continued to decline in May, with output and new orders both falling slightly.
Commenting on the China General Manufacturing PMI™ data, Dr. Zhengsheng Zhong, Director of Macro economic Analysis at CEBM Group said: “The Caixin China General Manufacturing PMI for May came in at 49.2, down 0.2 from April’s reading, marking the second consecutive monthly decline. Readings for the output and new order categories fell again, but employment improved slightly."
"Overall, China’s economy has not been able to sustain the recovery it had in the first quarter and is in the process of bottoming out. The government still needs to make full use of proactive fiscal policy measures accompanied by a prudent monetary policy to prevent the economy from slowing further", Zhong said.
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Author
Ivan Delgado
Independent Analyst
Established in the Asian continent since 2009, Ivan studied a degree in Business at the University Pompeu Fabra (Barcelona), while also earning a postgraduate degree in Business Administration.
