(S&P Global) China’s Purchasing Managers Index was recorded at 48.1, signaling another contraction, although activity improved from the 26-month low index of 46.0 in April.
Firms reported softer declines in production and new order accumulation. There were also slower declines in purchasing activity.
Supply chain delays remained severe, with the delivery times lengthening sharply in May. The rising lead times were related to Covid-19 restrictions.
Input costs moderated for the second straight month, although it was sharp overall. Output charges declined for the first time in five months.
China’s manufacturing firms remained less upbeat, with the business confidence on the twelve-month outlook falling to its lowest in five months in May. Firms cited concerns over how long it may take to bring the virus into control.
CSI 300 is down -0.20%, USDCNY is up +0.23%.
