Official Data: China’s factory activities weakened in May

The Chinese National Bureau of Statistics has released official data on Monday, 31 May 2021, which showed a drop in the manufacturing purchasing managers’ index (PMI) to 51 points from 51.1 in April. 

Fewer working days in May and the surge in raw material prices are to blame for the reduction, while industry experts believe the recovery momentum in China has passed the peak. 

Activities in the services and construction sectors climbed to 55.2, up 0.3 points from the previous month.

Export orders fell for the second month in a row, to 48.3 in May.