The decline in the composite index was due to a weaker service sector, which dropped sharply from 54.5 in April to 52.7 in May, while the manufacturing index remained stable in May at 50.2. Photo: EPA

China business outlook drops to lowest level on record amid US trade war, May’s Caixin PMI report shows

  • ‘Subdued expectations’ among manufacturing and service-sector companies for the year ahead, according to latest Caixin Purchasing Managers’ Index
  • Combined index on current conditions also fell from 52.7 in April to 51.5 in May led by drop in the service sector, while manufacturing remained stable
Topic |   China economy

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The decline in the composite index was due to a weaker service sector, which dropped sharply from 54.5 in April to 52.7 in May, while the manufacturing index remained stable in May at 50.2. Photo: EPA
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The manufacturing purchasing managers’ index (PMI) is a gauge of sentiment among factory operators and is based on a survey, the responses to which are aggregated into a number. A number above 50 signifies a positive economic outlook, while below 50 means sentiment is in contraction. Photo: AFP

Explainer: China’s manufacturing outlook weakens showing economic slump is yet to hit bottom

  • May’s manufacturing purchasing managers’ index (PMI) dropped to 49.4, the first time it has dipped into negative territory since February
  • Service sector PMI improved slightly ahead of new US tariffs taking effect, but analysts suggest Beijing’s stimulus are wearing off
Topic |   China economy

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The manufacturing purchasing managers’ index (PMI) is a gauge of sentiment among factory operators and is based on a survey, the responses to which are aggregated into a number. A number above 50 signifies a positive economic outlook, while below 50 means sentiment is in contraction. Photo: AFP
READ FULL ARTICLE