China Economy

China business sentiment lifts in May: MNI

Evidence is mounting that the world’s second largest economy is losing growth momentum as sluggish domestic demand fails to offset lethargic exports. Photo: Reuters

PUBLISHED : Friday, 31 May, 2013, 9:59am
UPDATED : Monday, 30 May, 2016, 5:01pm

The pace of improvement in overall Chinese business conditions increased on a seasonally adjusted basis in May but weakened in unadjusted terms, according to the latest MNI China Business Sentiment Indicator.

The overall conditions index rose to 55.2, from 53.8 seasonally adjusted, but fell to 56.7, from 58.5 in April unadjusted. The unadjusted result was down from the 57.1 in the flash May result a week ago.

The final MNI China Business Sentiment Indicator is on the last Friday of every month, while the flash result is based on unadjusted data.

Market News International (MNI), a wholly owned subsidiary of Deutsche Börse Group, is a real-time news agency founded in 1983.

On Saturday, China’s official purchasing managers’ index (PMI) is expected to show that China’s official Purchasing Managers’ Index (PMI) fell to 50.1 in May, from 50.6 in April.

A reading above 50 indicates expanding activity while a reading below that level points to a contraction. The report will be released on Saturday morning.

Evidence has mounted in recent weeks that the economy is fast losing growth momentum as sluggish domestic demand fail to make up for lethargic export sales, dampening hopes for a China economic revival this year.