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Chinese Factory Activity Seen Cooling in May

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Factory activity in China is expected to have grown at its slowest pace in eight months, a Reuters poll showed, as previous stimulus fades and policymakers focus on tackling rising debt – a sign the cooldown in manufacturing will persist through 2017.

The manufacturing sector is also losing a tailwind from rising producer price inflation, which helped fuel strong industrial profits but is now coming off from more than five year highs.

The official manufacturing Purchasing Managers’ Index (PMI) is expected to come in at 51.0, which would be the lowest reading since September albeit the tenth straight month of growth, according to a median forecast of 30 economists in the Reuters poll.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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