China's manufacturing continues to slow in May with PMI decline

09:48, June 01, 2011      

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China's manufacturing activities continued to slow in May, with the Purchasing Managers Index (PMI) of the country's manufacturing sector falling 0.9 percentage point month-on-month to 52 percent, according to the China Federation of Logistics and Purchasing (CFLP).

It was the second consecutive month of decline for the PMI, a gauge of of the manufacturing expansion, in China, as the government took a series of tightening measures to curb soaring prices and cool the economy.

The PMI figure was 52.9 percent in April, 53.4 percent in March, 52.2 percent in February and 52.9 percent in January.

A reading above 50 percent indicates economic expansion. One below 50 percent indicates contraction. China's PMI has been staying above the boom-or-bust line for 26 months in a row.

Source: Xinhua
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