The manufacturing sector in China continued to contract in May, albeit at a slower pace, the latest survey from HSBC revealed on Thursday with a two-month high PMI score of 49.1.
That was shy of expectations for a score of 49.3, although it was up from 48.9 in April. It also remained beneath the boom-or-bust line of 50 that separates expansion from contraction.
Among the individual components, the output index weighed on the overall reading by sinking to a 13-month low of 48.4 from 50.0 in April.
The material has been provided by InstaForex Company – www.instaforex.com