China’s PMI May 2024

According to the latest data from the National Bureau of Statistics, China’s composite Purchasing Managers' Index (PMI), which includes both manufacturing and non-manufacturing activities, expanded in May reaching 51, above the 50-point threshold that separates growth from contraction.

China's official manufacturing PMI index fell to 49.5 in May from 50.4 in the prior month, and, as for the non-manufacturing sector, which has been supporting the economic recovery so far, it came in at 51.2, in line with April’s reading.

Several key indicators of the Chinese economy, particularly consumer spending and the real estate sector, are still in a phase of recovery, and the Chinese government has implemented a series of policies and financial measures whose effects will be seen in the coming months.