In May this year, the China Caixin Manufacturing Purchasing Managers Index (PMI) indicated a final reading of 49.6, decreasing from the Caixin PMI final reading of 50.3 for April, as announced by Beijing-based Caixin media group.
Meanwhile, as announced by China's National Bureau of Statistics (NBS), the purchasing managers' index (PMI) for China’s manufacturing sector was at 51.2 percent in May, unchanged compared to the previous month.
Zhong Zhengsheng, chief economist with the China Economic and Business Monitor (CEBM), part of Caixin Insight Group, stated that in May the Caixin PMI declined below 50 for the first time in 11 months, indicating movement of the manufacturing industry from expansion to contraction.