Reported 4 months ago
China's manufacturing sector experienced a surge in May, with the Caixin PMI reaching its highest level in about two years at 51.7, driven by production and new orders, particularly in smaller firms. The upbeat data contrasts with the official PMI survey, indicating a divergent economic recovery for the country. Despite increased infrastructure investment and high-tech manufacturing support, the full impact of these measures on businesses and workers is yet to be realized. The outlook for China's trade remains uncertain due to a subdued global economy, with new export orders growing at a slower pace in May. Employment in the sector remained weak, although the rate of job losses slowed, with some consumer goods makers reporting a slight increase in staffing levels.
Source: YAHOO