Chinese factory activity rises to 8-month high
May 31, 2018 by The Associated Press
May 30, 2018 – A monthly survey shows Chinese factory activity has risen to an eight-month high, in a positive sign for the world’s No. 2 economy.
The official purchasing managers’ index rose to 51.9 in May from 51.4 the previous month.
Readings above 50 indicate expansion, while those below that figure indicate contraction on the index’s 100-point scale.
The China Federation of Logistics & Purchasing’s survey found that production, new export orders and overall new orders all increased from the previous month, indicating an uptick in demand.
The latest figures come despite continued tensions between China and the U.S. over the trading relationship between the world’s two biggest economies.
Activity in China’s increasingly important services sector also expanded. The group’s non-manufacturing PMI rose to 54.9 for the month from 54.8 previously.