CHINA MANUFACTURING INDEX SLIPS BACK INTO NEGATIVE TERRITORY

HONG KONG – The HSBC Flash China Manufacturing PMI™ for May has come in at 49.6, down from 50.4 in April – putting it at a seven-month low. The Flash China Manufacturing Output Index was down marginally, to 51.0 (51.1 in April), a three-month low. Data for the Survey, collected between May 13 and May 21,  showed manufacturing output increasing, but at a slower rate, with new orders actually decreasing. New export orders also decreased, although at a slower rate, but employment fell, at a faster rate.