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China's Manufacturing Sector Contracts In May
(MENAFN- The Peninsula)
QNA
Beijing, China: China's manufacturing activity contracted in May, indicating that the sector is under pressure due to weak domestic demand and rising production costs.
The National Bureau of Statistics of China said in a statement Sunday that the Purchasing Managers' Index (PMI) for the manufacturing sector fell to 50 points in May, down 0.3 percentage points from April.
In contrast, the Purchasing Managers' Index (PMI) for the non-manufacturing sector rose to 50.1 points during May, an increase of 0.7 percentage points from the previous month.
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