China’s PMI rises to 50.8 in May

China’s PMI rises to 50.8 in MayAccording to the latest figures released, China's manufacturing activity has accelerated during the month of May indicating that the world's second largest economy might be recording stable recovery.

The country's Purchasing Managers' Index rose to 50.8 during May compared to 50.6 in April, according to the data released by the National Bureau of Statistics and China Federation of Logistics and Purchasing said in Beijing. A rating of more than 50 shows expansion while a rating of below 50 shows contraction. The growth is higher than expected by most analysts for China in May. A Bloomberg News survey of 30 analysts had predicted lower growth in the manufacturing sector of the country.

The acceleration in manufacturing growth would bring much relief to the leadership of the country. Some surveys had predicted a contraction for the first time in years in the Chinese manufacturing sector. Experts have said that growth further reduces the likelihood of any monetary policy easing in the country by the new leadership under Premier Li Keqiang.

The statistical bureau is expected to release industrial output, retail sales, and inflation data for the month of May on June 9 and analysts will be carefully analyse the data to determine the direction of the Chinese economy.

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