China Official May PMI Rises to 50.8%（在线收听） |
China's Purchasing Managers' Index, or PMI, for the manufacturing sector rose to 50.8 percent in May from 50.6 percent in April.
This is the eighth consecutive month for the PMI figure to stay above the 50-percent mark. The PMI is a key economic indicator so this means expanding activity.
And it shows that Chinese manufacturing is on the up.
Zhang Liqun is an analyst at China's State Council.
"The general modest rise of the PMI in May suggests a stable economy. Generally speaking I think it's a positive sign."
China's official PMI is based on a survey of purchasing managers from 3-thousand companies in 21 industries. The figures are different from HSBC bank's flash PMI reading issued last week.
The British bank said the PMI for China's manufacturing dropped to 49.6 point in May, slipping under the 50-point level for the first time in seven months.
But the China Federation of Logistics and Purchasing, or CFLP, says the sub-index for production moved up from 52.6 percent in April to 53.3 percent.
This is a major driver of May's PMI and represents expanding output.
The CFLP data also shows the employment sub-index for May declined 0.2 percentage points to 48.8 percent, indicating job cuts, while the sub-index for supplier delivery times was unchanged at 50.8 percent. |
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