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China, industry in decline in May but boom for services

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Orders are falling, and industrial activity in China is affected. In May, the slowdown due to the slowdown in demand and the increase in commodity prices, while the service sector exploded during the Labor Day holidays.
The Purchasing Managers’ Index (PMI), a key indicator of Chinese manufacturing activity, was 51.0 in May, down slightly from 51.1 in April, but still above the line separating growth. from the contraction, as pointed out by the National Institute of Statistics.

The question begins to mark time

Although factory production has been “steadily increasing,” with overall activity exceeding the same periods over the past two years, demand growth has slowed.

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In April there was a first signal with the brake of the indicators that signaled the economic sentiment of China in the first month of the second quarter. The non-manufacturing PMI (services and construction) index had fallen more than expected in April, to 54.9 from 56.3 in March. The survey on the manufacturing trend of the world‘s second largest economy had dropped to 51.1 in April from 51.9 in March.

Also due to inflation, both indicators fell short of expectations in April, thus indicating a cooling in economic activity.

Manufacturing continued its decline in May, the new export orders index fell, reflecting the decline in foreign orders. Meanwhile, purchase prices of major commodities remain high, while freight rates are still rising.

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