China’s manufacturing activity unexpectedly fell in May, according to an official survey, adding to pressure on policymakers seeking to boost momentum in the world’s second-biggest economy.
The country’s official manufacturing purchasing managers’ index came in at 49.5 in May, missing expectations of an expansion and reversing recent increases in April and March. A reading of above 50 marks an expansion compared with the previous month.
President Xi Jinping’s government has emphasised high-end manufacturing and an upgraded industrial sector at a time when a prolonged property slowdown and weak consumer demand have weighed on economic momentum.
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