China’s Private Factory Gauge Slows as Economy Softens

The RatingDog China General Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 51.8 in May from 52.2 in April, but was slightly above analysts' ​forecast of 51.6.

Measured on a scale between 0 and 100, a PMI reading above 50 indicates expansion, while a reading below 50 reflects contraction.

Economists surveyed by Bloomberg had predicted a reading of 50.0 as well.

High-tech manufacturing, for instance, posted a PMI reading of 52.9 in May, rising from 52.2 in April, while equipment manufacturing recorded a PMI of 52.1, following a reading of 51.8 in the previous month, with both staying firmly in expansion territory.