China Official PMI Hits Five-month High In May, Boding Well For Second Quarter
Official data showed Sunday that China’s factory activity expanded at the fastest pace in five months in May due to rising new orders, reinforcing views that the world’s second-largest economy is regaining momentum in the second quarter following Beijing’s targeted measures to bolster growth. The National Bureau of Statistics reported the official Purchasing Managers’ Index rose to 50.8 in May from April’s 50.4.
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