China's Caixin Manufacturing PMI Beats Odds, Hovers Above Redline at 50.2
Tang Shihua
DATE:  Jun 03 2019
/ SOURCE:  yicai

(Yicai Global) June 3 -- China's Caixin manufacturing purchasing managers' index for last month has market forecasts by staying pat in expansion mode.

The May Caixin PMI was 50.2, unchanged from April, buoyed by a jump in new export orders, Caixin-Markit said today. The average projection for the figure was 50.0., the borderline between expansion and contraction.

China has two key PMIs. The official PMI is state-run and monitors 3,000 companies, most of them large and state-backed, and the Caixin index, often known as the Caixin-Markit Index, which taps 500 businesses that are typically smaller and privately owned.

The official manufacturing PMI retreated back into contraction territory last month, down 0.7 points at 49.4., the National Bureau of Statistics said on May 31.

Editor: Ben Armour

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Keywords:   Caixin Manufacturing PMI ,Economic Data