BEIJING –
Chinese manufacturing activity fell unexpectedly in May, keeping calls for new stimulus alive as an ongoing real estate crisis in the world’s second-largest economy continues to weigh on business, consumer and investor confidence.
The official purchasing managers’ index (PMI) for the manufacturing sector fell to 49.5 in May from 50.4 in April, the National Bureau of Statistics (NBS) said on Friday, below the 50 mark that separates growth from contraction and analysts’ forecast of 50.4 is missing.
This disappointing figure adds to a raft of recent indicators showing the $18.6 trillion economy is struggling to get back on its feet, undermining earlier optimism following better-than-expected manufacturing and trade data .
