1. International

  2. News
  3. News

China PMI signals minimal decline of business in May

India Infoline News Service | Mumbai |

The pick-up in the services PMI echoes a rebound in China`s factory sector

China's services sector grew at its fastest pace in six months in May as new orders rebounded, HSBC China PMI survey showed.
The official non-manufacturing purchasing managers' index (PMI) climbed to 55.5 from April's 54.8, the National Bureau of Statistics said. That is well above the 50-point level that separates an expansion from a contraction in activity.
In a sign of buoyancy in the sector, new orders rebounded to an eight-month high of 52.7, compared to April`s 50.8. Business expectations also held their ground at a solid 60.7, compared to April`s 61.5.
The pick-up in the services PMI echoes a rebound in China`s factory sector, and augurs well for a spate of monthly economic data from the country due later this month.
Official data on Sunday showed China`s manufacturing industry grew at its fastest pace in five months in May due to rising new orders, as a PMI for the sector touched a high of 50.8 in May.



 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.