Business conditions in the Chinese manufacturing sector improved at a more pronounced rate midway into the second quarter of 2024. Production growth accelerated amid rising new orders. This led to faster accumulation of backlogged work, while purchasing activity also rose. Firms were hesitant to hire additional workers, however, even as sentiment about the outlook improved. Meanwhile input price inflation climbed to a seven-month high. Average selling prices were little changed whilst there was a renewal of export charge inflation in May. The headline seasonally adjusted Purchasing Managers’ Index™ (PMI®) – a ... (full story)

China's manufacturing activity in May grew at the fastest pace in about two years with strong production and new orders, a private sector survey showed on Monday, indicating the sector remains robust amid supportive industrial policies. The Caixin/S&P Global manufacturing PMI rose to 51.7 in May from 51.4 the previous month, marking the fastest pace since June 2022 and beating analysts' forecasts of 51.5. The 50-point mark separates growth from contraction. The reading contrasts with an official survey on Friday that showed a surprise fall in manufacturing activity, pointing to a mixed picture of the sprawling ... (full story)