China manufacturing activity grows more than expected in May- Caixin PMI

Investing.com-- China’s manufacturing sector grew more than expected in May, private purchasing managers index data showed on Monday, indicating that some sectors of the country’s biggest economic drivers still had legs.from Friday, which showed that China’s manufacturing unexpectedly shrank in May.

Still, Monday’s reading indicates that some sectors of China’s massive manufacturing sector were seeing sustained strength, with the Caixin PMI signaling growth for a seventh consecutive month. Beijing rolled out a string of stimulus measures so far in 2024 to help spruce up growth. But their effects are yet to be seen in an broader Chinese economic recovery, with weak inflation, sluggish consumer spending and a sustained property market meltdown all remaining in play.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.

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