China's manufacturing PMI flat in May

BEIJING -- China's manufacturing sector expansion remained steady in May, official data showed on June 1.

The purchasing managers' index (PMI) for May came in at 50.1, the same as in April, according to the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing.

A reading above 50 indicates expansion, while a reading below 50 reflects contraction.

Meanwhile, PMI for the non-manufacturing sector came in at 53.1 in May, down from 53.5 in April and 53.8 in March, which showed that business activity in China's non-manufacturing sector expand at slower pace in May.

NBS statistician Zhao Qinghe said the country's manufacturing activity maintained steady growth last month, partly due to expansion of high-technology manufacturing and consumer goods manufacturing.

High-technology manufacturing PMI hit 50.8 and consumer goods manufacturing PMI stood at 51.5.

In the meantime, the Caixin General China Manufacturing PMI, an indicator of factory activity based on a private survey, fell to a three-month low of 49.2 in May.

The reading, released on June 1 after research by financial information service provider Markit sponsored by Caixin Media, was down from 49.4 in April and 49.7 in March, signaling a marginal deterioration in the manufacturing sector.

The data came on the heels of the official PMI that showed manufacturing activity stayed in expansionary mode for a third consecutive month in May.

The official PMI samples 3,000 relatively large enterprises in China. The Caixin PMI samples 420 small and medium-sized manufacturing enterprises and is relatively volatile due to its small sample size and the dominance of small enterprises.

Table: China’s PMI for the manufacturing sector and the non-manufacturing sector in Jan.-May