China’s Official Manufacturing PMI to 50.2

A Chinese factory gauge rose last month, suggesting the government’s monetary easing and relaxation of fiscal rules have helped cushion the economy.

The official manufacturing Purchasing Managers’ Index was at 50.2 in May, according to the statistics bureau and the China Federation of Logistics and Purchasing in Beijing. That compared with the 50.3 median estimate of economists surveyed by Bloomberg News. Numbers above 50 signal expansion.

The economy has slowed below the government’s 7 percent target rate in recent months, according to Bloomberg’s monthly growth tracker. In response, policy makers have relaxed financing rules for local governments and cut benchmark interest rates and banks’ reserve requirements.

Bloomberg

Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.