MNI BRIEF: China May Manufacturing PMI Remains In Contraction

China's Manufacturing Purchasing Managers Index rose by 0.5 points to 49.5 in May, but remained below the breakeven 50 mark for the second month, data from the National Bureau of Statistics showed Saturday.

The production sub-index increased by 0.9 points to 50.7, rising above the critical 50 as manufacturing activities accelerated. The new order sub-index was 49.8, up 0.6 points from the previous month.

The non-manufacturing PMI registered 50.3, down 0.1 points from the previous month. The business activity sub-index for the service sector edged up by 0.1 points to 50.2. The expectation sub-index was up 0.1 points to stay in a relatively high prosperity range of 56.5, with most service businesses remaining optimistic about market development.