China’s factory sector put in its best performance in four months in May as export orders rebounded although activity remained in contraction territory, a HSBC survey showed on Tuesday.
The final reading of the HSBC/Markit purchasing managers’ index (PMI) rose to 49.4 in May from 48.1 in April but was below an initial estimate of 49.7.
The new export orders sub-index rose to a four-year high of 53.2 in May from April’s 48.9, but the new orders sub-index barely stopped contracting in a sign that domestic demand remains sluggish even as global demand improves.
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