Private survey shows factory activity expanded faster than expected, contrasting with weaker official data released over the weekend.
China’s May manufacturing PMI rose to 51.8 in a private survey, exceeding the 51.4 forecast and signaling stronger-than-anticipated factory activity. The reading, compiled by Rating Dog and S&P Global, follows official data showing a decline to 50.0, matching expectations but reflecting a sharp contraction in export orders.
The official non-manufacturing PMI outperformed, climbing to 50.1 from 49.5, beating consensus. The divergence between private and official manufacturing PMIs highlights mixed signals in China’s economic recovery, with domestic demand showing resilience amid external pressures.
Markets are monitoring the data for signs of stabilization in the world’s second-largest economy, though the impact on policy expectations remains uncertain.