China official PMI manufacturing dropped slightly to 51.0 in May, down from 51.1, below expectation of 51.1. Looking at some details, production rose 0.5 to 52.7. New orders dropped to 51.3, while raw material inventory dropped to 47.7. New export orders also dropped to 48.2.
PMI non-manufacturing rose to 55.2, up from 54.9, above expectation of 52.7.
