Business activity in China’s industry declined in May


In May, the purchasing managers' index in the processing industry of the PRC, according to official statistics, was 49.4 points, down from 50.1 points in April. Economists had expected a less significant decrease in the index - to 49.9 points. Large enterprises showed a decrease in the index to 50.3 points from 50.8 points. The indicator of medium-sized enterprises fell to 48.8 points from 49.1 points, while small companies reduced it to 47.8 points from 49.8 points. The indicator, which determines the level of new orders in China, amounted to 49.8 points, dropping from 51.4 points. New export orders showed an even greater drop, the corresponding indicator dropped to 46.5 points from 49.2 points. According to one more official data, China's PMI in the service sector retained in May the value of April at 54.3 points, which coincided with the experts' expectations.

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