In­dex rises on new or­ders; em­ploy­ment still lags

China Daily (Canada) - - NEWSCAPSULE -

The pre­lim­i­nary Pur­chas­ing Man­agers In­dex for Chi­nese man­u­fac­tur­ing in May beat ex­pec­ta­tions with a five-month high, sug­gest­ing the world’s sec­ond-largest econ­omy is sta­bi­liz­ing.

The PMI, re­leased by HSBC Hold­ings Plc and Markit Eco­nom­ics, was 49.7, com­pared with a 48.3 me­dian es­ti­mate from an­a­lysts. April’s fi­nal read­ing was 48.1. Still, a read­ing be­low 50 re­flects con­trac­tion. A fi­nal May read­ing is ex­pected on June 3.

“Ten­ta­tive signs of sta­bi­liza­tion are emerg­ing, partly as a re­sult of the re­cent mini-stim­u­lus mea­sures and lower bor­row­ing costs,” HSBC econ­o­mist Qu Hong­bin said.

Out­put and or­ders re­bounded. The new or­der sub-in­dex rose to 50.2 from 47.4 in April, the high­est read­ing so far this year. (Photo 1)

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