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CN May Caixin Services PMI Hikes to 51.1, in Line
Driven by the effect of the May Day holiday, residents' travel and catering consumption were more active than before in May, while the service sector's prosperity rose, acc...
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Driven by the effect of the May Day holiday, residents' travel and catering consumption were more active than before in May, while the service sector's prosperity rose, according to Caixin.com.

The Caixin China General Services Business Activity Index (service PMI) hiked to 51.1 in May, from 50.7, slightly ahead of the market consensus of 51, indicating faster service sector business expansion pace, the data showed.

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The earlier announced Caixin China Manufacturing PMI fell by 2.1 ppts to 48.3 in May, the first time since October 2024 that it has fallen below its threshold.

Dragged mainly by the downturn in the prosperity of the manufacturing sector, the composite PMI output index dropped by 1.5 ppts to 49.6 during the month, representing the first time since 2023 that it had fallen into contraction interval, signalling overall weakness in production and business activity of Chinese enterprises.

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