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Market Overview
Operations Rise Slightly for Chinese Manufacturing Industry
The Markit Economics
released the Caixin China Manufacturing Purchasing Managers Index (PMI) this
morning, showing that operational conditions have improved slightly for May.
According to the
index, total new work rose at a fast pace for Chinese manufacturing firms in
May. Export sales also saw an increase while production was broadly stable. As
production rose and employment levels remained the same, a backlog of work
continued to be on the rise. Although this is the case “companies
retained a relatively cautious approach towards employment, noting a slight
decline in staffing levels for the second successive month,” the index report
stated.
Although the
purchasing activity levels only rose slightly, this is the first time in five
months that the Chinese manufacturing industry has seen an increase in this
area. Another sharp jump comes in the form of business confidence, which has
fallen to its lowest level since April 2012 due to the China-U. S trade war.
The full report can
be viewed at http://bit.ly/2WawZCG.
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