Much better than the National Bureau of Statistics (NBS) official manufacturing PMI released last week (see link below)
From the report today, in brief:
- fourth consecutive month of accelerated growth in the sector
- supply and demand expanded
- output reached a 23-month high
- strong increases in consumption goods production
- new orders 10th straight month of growth
- New export orders grew for the fifth consecutive month, albeit at a slower pace
- sector’s labor market remained in contraction for the ninth straight month
- Price levels remained low. Input costs rose at the fastest pace in seven months, though the increase was modest.
- Sales prices continued to decline
- factory gate prices for intermediate goods ticked up
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On Friday we had the official May PMIS:
Manufacturing slipped back into contraction, and to its lowest for 3 months.
