A private survey showed manufacturing activity in China expanded for the month of May with the Caixin/Markit Manufacturing Purchasing Manager's Index coming in at 50.7.
Analysts polled by Reuters had expected the PMI number to come in at 49.6 compared to the April reading of 49.4.Workers make toys at a plastic product factory in Zhangjiajie, central China's Hunan Province, May 27, 2020.A private survey showed manufacturing activity in China expanded for the month of May.had expected the PMI number to come in at 49.6 compared to the April reading of 49.4.
China posted the official manufacturing Purchasing Manager's Index which came in at 50.6, according to the National Bureau of Statistics. This was compared to 50.8 in April. The Caixin/Markit survey features a bigger mix of small- and medium-sized firms. In comparison, the official PMI survey typically polls a large proportion of big businesses and state-owned companies.
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