China HSBC PMI Rises to 49.4

China’s factory sector put in its best performance in four months in May as export orders rebounded although activity remained in contraction territory, a HSBC survey showed on Tuesday.

The final reading of the HSBC/Markit purchasing managers’ index (PMI) rose to 49.4 in May from 48.1 in April but was below an initial estimate of 49.7.

The new export orders sub-index rose to a four-year high of 53.2 in May from April’s 48.9, but the new orders sub-index barely stopped contracting in a sign that domestic demand remains sluggish even as global demand improves.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.