China’s Manufacturing Purchasing Managers’ Index

Economy

China’s official manufacturing Purchasing Managers’ Index (PMI) hit 51.0 in May, down marginally from 51.1 in April but up from 50.6 points in May last year, data from the National Bureau of Statistics showed. However, Reuters commented that high raw material costs were among the challenges facing small and export facing companies. The index has remained above the 50-point mark that separates growth from contraction for 15 successive months.