China's official purchasing managers' index fell to 50.4 percent in May. [Photo/Xinhua]
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China's official purchasing managers' index fell to 50.4 percent in May. [Photo/Xinhua] |
China's official purchasing managers' index, a readout of the country's manufacturing activity, ended five months of consecutive growth in May and fell to 50.4 percent.
The PMI in May was down 2.9 percent from that in April, the China Federation of Logistics and Purchasing (CFLP) said Friday.
The figure in May showed China's economy is cooling but the growing trend remained unchanged, as the reading still stood above 50 percent, the CFLP said in a statement.
"The short-term moderation of economic growth at present does not mean the Chinese economy is entering a new recession stage," the statement said.