Chinese manufacturing PMI fell to a three-month low of 49.5 in May
May 31, 2024
China’s manufacturing Purchasing Managers’ Index (PMI) fell to 49.5 in May from 50.4 in April, hitting a three-month low. This data was disappointing, especially in light of recent strong industrial activity indicators, and significantly below market and expert expectations that had forecast growth. The main reasons for the decline were a fall in new orders (49.6) and new export orders (48.3), which after two months of expansion turned into contraction again.
