According to the reading of the PMI index prepared by the consulting firm Caixin, it stood at 51.7 points compared to 51.4 in April.

The growth of activity in China's manufacturing sector accelerated last May to its highest level in 23 months, according to the reading of the PMI index prepared by the consulting firm Caixin, which stood at 51.7 points, compared to 51 4th of April.

This expansion was supported by growth in new orders, driven by stronger demand, both domestic and overseas, although the pace of expansion of new orders slowed slightly since April.

Inventories of finished products contracted again in May, while delivery times for inputs were shortened for the third consecutive month. For its part, the backlog accumulated for the third consecutive month and at the fastest pace since September 2021, although companies continued to hesitate to hire additional workers, as reflected by the drop in employment levels.

"Manufacturing production growth reached a 23-month high in May, with particularly strong increases in the production of consumer goods," highlighted Wang Zhe, senior economist at Caixin Insight Group, who, despite the improvement, persists. hurdles and price levels were still low, especially on the sales side, while companies were cautious about hiring.

"China's economy is generally stable and remains on the path of recovery (...) However, pressure on employment and weaker demand than supply remain prominent issues. The fundamental cause is weak expectations generals," he warned.

The reading of the May data from Caixin contrasts with the result of the official survey, whose PMI fell in May to 49.5 points from 50.4 in April, which would represent the first contraction of Chinese manufacturing since last month of February.