TLTP
BEIJING
The purchasing managers’ index (PMI) for China’s non-manufacturing sector came in at 53.6 in May, up from 53.2 in April, while manufacturing sector eased to 50.6 in May from 50.8 in April, the National Bureau of Statistics (NBS) said Sunday.
A reading above 50 indicates expansion, while a reading below it reflects contraction. The sub-index for business activities in the construction sector accelerated pace of growth in May, expanding 1.1 points from the previous month to 60.8, while that for the service sector steadily recovered, edging up 0.2 points from April.
Driven by policies on stimulating consumption as well as the effects from the consumption boom during the five-day May Day holiday, consumer market continues to warm up, said NBS senior statistician Zhao Qinghe.
Among the 21 service sectors surveyed, 15 saw expansion in their business activities in May.
Meanwhile, the PMI for China’s manufacturing sector eased to 50.6 in May from 50.8 in April. Of the surveyed manufacturing firms, 81.2 percent saw over 80 percent of their business operation resumed in May, NBS data showed.
The sub-index for production edged down 0.5 percentage points to 53.2 in May, while that for new orders picked up 0.7 percentage points to 50.9, NBS data showed.
The indices measuring new orders in 12 of the 21 surveyed sectors picked up, indicating improved domestic demand, Zhao said.
Affected by the COVID-19 pandemic, external demand remained sluggish, with the sub-index measuring new export orders standing at a historically low level of 35.3, NBS data showed.
