China May factory PMI growth keeps pace with previous month
Growth in China’s manufacturing sector in May kept pace with the previous month, an official survey showed on Wednesday, beating expectations in a reassuring sign the world’s second-biggest economy is not losing too much steam after a solid first quarter performance. The official Purchasing Managers’ Index (PMI) stood at 51.2 in May, compared with the previous month’s 51.2 and above the 50-point mark that separates growth from contraction on a monthly basis.
