China’s official PMI Manufacturing index fell from 50.4 to 49.5 in May, below the expected 50.5, indicating contraction after two months of expansion. The new manufacturing export order subindex also dropped significantly to 47.2 from 50.6 in April, highlighting weakening external demand.
PMI Non-Manufacturing index ticked down slightly from 51.2 to 51.1, missing the expectation of 51.5. Within this sector, the construction new order subindex decreased to 44.1 from 45.3, and the service sector business activity subindex declined to 47.4 from 50.3, showing reduced activity.
PMI Compositewhich combines manufacturing and non-manufacturing data, fell from 51.7 to 51.0, indicating a slowdown in overall economic activity.
