The official manufacturing PMI for May was unchanged at 50.1, same as in April, data from National Bureau of Statistics showed on Wednesday. The median estimate was for a decline to 50 in China. The official non-manufacturing PMI was also weaker in May, falling to 53.1 compared to 53.5 in April. The Caixin manufacturing PMI on the other hand, which uses a smaller sample set than official PMI slipped as well. The soft print in manufacturing and non-manufacturing signals continued weakness, despite a brief pick up in manufacturing earlier this year.
OPEC Unlikely to Reach Output Accord Today
Daily Analysis - 02/06/2016