China’s manufacturing sector continued to expand in May, with a private survey showing stronger-than-expected growth despite signs of slowing momentum and weaker official data.
The RatingDog China General Manufacturing Purchasing Managers’ Index (PMI) rose to 51.8 in May, slightly above market expectations of 51.6. Although the reading remained firmly in expansion territory, it was lower than April’s 52.2, indicating a slower pace of growth. A PMI reading above 50 signals expansion, while a figure below 50 points to contraction.
According to the survey, manufacturing conditions remained among the strongest seen in the past five years, even as new export orders declined slightly and employment levels contracted marginally. Input prices also fell for the first time in six months, although businesses continued to face pressure from higher raw material and energy costs, as well as supply chain disruptions.
Manufacturers remained optimistic about the year ahead, citing expectations of growth driven by new product launches, technological innovation, and improved production capacity.
The private survey contrasted with China’s official manufacturing PMI, which slipped to 50 in May from 50.3 in April, reflecting weaker momentum across the broader industrial sector. Economists noted that the official data points to subdued manufacturing growth, stronger services activity, and ongoing weakness in the construction industry.
The mixed signals highlight the uneven nature of China’s economic recovery. While consumer spending has remained soft, domestic tourism and holiday travel showed improvement during the extended May holiday period, offering some support to the broader economy.
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