China factory activity beats forecasts in May despite softer official data
China manufacturing PMI rises above forecast despite a slower May pace See what softer exports, easing costs, and uneven momentum could mean next.
A private survey showed China’s manufacturing sector expanded more quickly than expected in May, even as the pace eased from April and official data pointed to weaker momentum.
The RatingDog China General Manufacturing PMI, compiled by S&P Global, rose to 51.8, above the 51.6 forecast in a Reuters poll. Although the reading stayed in expansion territory, it was lower than April’s 52.2, suggesting growth slowed modestly.
The report said export orders slipped slightly and manufacturing employment contracted marginally. It also noted that input prices fell from the previous month for the first time in six months, while costs remained elevated because of raw materials, energy, and supply chain pressures. China’s official manufacturing PMI also softened in May, highlighting uneven conditions across the broader economy.