May RatingDog China manufacturing PMI 51.8, down 0.4 percentage points from April. Production and demand remain in expansion but momentum slowed; output rose but at a weaker pace. Total new orders continued to expand more slowly; new export orders declined from April into contraction. Cost and price pressures eased: input-material price gains narrowed and output price growth decelerated; firms’ pass‑through moderated. Overall manufacturing expansion slowed but underlying activity remains stable;

May RatingDog China manufacturing PMI 51.8, down 0.4 percentage points from April. Production and demand remain in expansion but momentum slowed; output rose but at a weaker pace. Total new orders continued to expand more slowly; new export orders declined from April into contraction. Cost and price pressures eased: input-material price gains narrowed and output price growth decelerated; firms’ pass‑through moderated. Overall manufacturing expansion slowed but underlying activity remains stable; continued new orders and output support the sector and easing cost pressure helps profit prospects, while weaker external demand is a downside risk.