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Caixin/IHS Markit May 2020 manufacturing PMI

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Workers make toys at a plastic product factory in Zhangjiajie, central China’s Hunan Province, May 27, 2020.

Xue Yuge | Xinhua News Agency | Getty Images

A private survey showed manufacturing activity in China expanded for the month of May.

The Caixin/Markit Manufacturing Purchasing Manager’s Index came in at 50.7 for May.

Analysts polled by Reuters had expected the PMI number to come in at 49.6 compared to the April reading of 49.4.

PMI readings above 50 indicate expansion, while those below that level signal contraction.

On Sunday, China posted the official manufacturing Purchasing Manager’s Index which came in at 50.6, according to the National Bureau of Statistics. This was compared to 50.8 in April.

The Caixin/Markit survey features a bigger mix of small- and medium-sized firms. In comparison, the official PMI survey typically polls a large proportion of big businesses and state-owned companies.

This is breaking news. Please check back for updates.

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