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<Econ>CN Caixin Mfg PMI Dips to 48.3 in May, Big Miss, Reenters Contraction Since Oct 2024
The repercussions of the US-China tariff war lingered, with manufacturing supply and demand subsiding in May, suppressing the economic climate below the boom-or-bust line, Caixin.c...
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<Econ>CN Caixin Mfg PMI Dips to 48.3 in May, Big Miss, Reenters Contraction Since Oct 2024
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The repercussions of the US-China tariff war lingered, with manufacturing supply and demand subsiding in May, suppressing the economic climate below the boom-or-bust line, Caixin.com reported.

The newly released Caixin China Manufacturing Purchasing Managers' Index (PMI) for May came in at 48.3, way below the market expectation of 50.7, and down 2.1 ppts from April, marking the first drop below the boom-or-bust line since October 2024.

Related NewsSpot USD/CNY Sinks 37 bps to Close at 7.1953
The data showed a dual decline in manufacturing supply and demand, persisted export downturn, ongoing sluggishness in employment and prices, and de-fused tariff war boosting market confidence.

Earlier, the National Bureau of Statistics (NBS) had announced that the manufacturing PMI for May rose by 0.5 ppts to 49.5, displaying marginal improvement despite two consecutive months of contraction.

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