TWO surveys suggest China's manufacturing sector improved or at least stabilised in May compared with the previous month, providing some respite following signs of a slowdown in the economy's recovery, reports Bloomberg.
china Beige Book, a US-based data provider, said its surveys show manufacturing output picked up 'notably' in May from April, as did domestic and foreign orders. Separately, Goldman Sachs cited a pick up in the emerging industries purchasing managers' index.
'It's still too early to put a nail in the coffin of the post-Covid Zero recovery,' said the China Beige Book. 'Manufacturing activity defied rumours of demise, though soft demand from Western economies remains a major headwind.'
Revenue and profit margins for Chinese manufacturers as well as the service and retail sectors also increased in May from the previous month, it said. China Beige Book's data was based on a survey of about 1,000 Chinese firms conducted between May 18-25.
SeaNews Turkey
china Beige Book, a US-based data provider, said its surveys show manufacturing output picked up 'notably' in May from April, as did domestic and foreign orders. Separately, Goldman Sachs cited a pick up in the emerging industries purchasing managers' index.
'It's still too early to put a nail in the coffin of the post-Covid Zero recovery,' said the China Beige Book. 'Manufacturing activity defied rumours of demise, though soft demand from Western economies remains a major headwind.'
Revenue and profit margins for Chinese manufacturers as well as the service and retail sectors also increased in May from the previous month, it said. China Beige Book's data was based on a survey of about 1,000 Chinese firms conducted between May 18-25.
SeaNews Turkey
