BEIJING, May 31 (Xinhua) — The purchasing managers\’ index (PMI) for China\’s manufacturing sector came in at 48.8 in May, down from 49.2 in April, data from the National Bureau of Statistics (NBS) showed Wednesday.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
China\’s economy still needs to consolidate its basis during the recovery, NBS statistician Zhao Qinghe said.
Among the 21 surveyed sub-sectors, 11 remained in the expansion zone, NBS data showed.
The production index and the new orders index came in at 49.6 and 48.3, respectively.
The PMIs of equipment manufacturing, high-tech manufacturing, and consumer products industries stood at 50.4, 50.5 and 50.8, respectively.
Market sentiment remained stable as the sub-reading for business expectation stood at 54.1, Zhao said.
Wednesday\’s data also revealed that the PMI for China\’s non-manufacturing sector stood at 54.5 in May, remaining in expansion territory.