Manufacturing PMI matched forecasts at 50.0, while non-manufacturing PMI exceeded expectations, rising to 50.1.
China’s official Manufacturing PMI held at 50.0 in May, unchanged from market expectations but down from April’s 50.3. The reading signals stagnation in factory activity as demand remains subdued.
The Non-Manufacturing PMI rose to 50.1, beating the 49.5 forecast and improving from April’s 49.4. The services sector’s expansion contrasts with manufacturing’s flat performance, reflecting uneven economic recovery.
The AUD/USD pair edged lower by 0.07% to 0.7180 following the release, as traders weighed the mixed data against broader risk sentiment.