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China’s manufacturing PMI hits 50.1 in May

Activity in China’s manufacturing sector expanded slightly in May, while business activity in China’s non-manufacturing sector expanded at a slower pace.

The official Purchasing Managers’ Index for the manufacturing sector stood at 50.1 in May, unchanged from the previous month. This is the third consecutive months that the reading is above the 50-point mark separates growth from contraction.

The PMI for the non-manufacturing sector came in at 53.1 in May, down from 53.5 in April and 53.8 in March. Analysts say the manufacturing sector still faces headwinds amid a decline in raw material prices and sluggish global demand.