In May this year, engineering machinery sales in China declined slightly as compared to April, following the month-on-month decrease observed in April, as reported by Chinese newspaper First Financial Daily.
Due to tight credit availability from the banks and the softening of downstream user demand, the growth trend seen in the last few years in the domestic engineering machinery sector in China has come to an end.
The further decline in engineering machinery sales observed in May in China occurred in line with the decrease in the purchasing managers index (PMI) for China's manufacturing industry, which dropped to 52 in May, down from 52.9 in April.