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China factory PMI growth holds up in May, steel sector activity speeds up

BEIJING (May 31): China manufacturing sector grew faster than expected in May as activity in the steel industry rebounded sharply, an official survey showed on Wednesday, allaying concerns of slowing economic momentum as Beijing cracks down on financial risks.

The National Bureau of Statistics' official Purchasing Managers' Index (PMI) held up at 51.2 in May, in line with April's number, which was the lowest in six months.

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China factory PMI growth holds up in May, steel sector activity speeds up

China factory PMI growth holds up in May, steel sector activity speeds up

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