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China PMI edges down in May

06-02-2011 08:42 BJT

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China's Purchasing Managers Index, or PMI for the manufacturing sector, stood at 52, marking the 27th consecutive month it has clocked in above the threshold of 50, which separates growth from contraction.

It declined from the previous month though, and analysts say the overall trend shows China's economy is stabilizing.

May's PMI continued the decline to 52, from April's 52.9. And 11 sub-indexes show the same falling trend.

Zhang Liqun, research fellow of Dev't Research Center of the State Council, said, "May's reading continues to fall, which suggests future growth may continue to slow down. That means China's economic expansion is transforming from combating crisis to normal growth."

Cai Jin, vice chairman of China Federation of Logisitics and Purchasing, said, "The fall is due to the macro control measures, which are aimed at fighting against inflation. That's a reasonable development."

China PMI in May and April

The sub-index for production decreased to 54.9, from April's reading of 55.3. Analysts say that's because the sub-index for China's central region experienced a major fall of 5.3 points, due to shortened electricity supply.

From an industrial perspective, the sub-index for production in sectors like paper manufacturing, non-ferrous metal producing and ferrous metal smelting dropped over 5 points.

"I think the trend is good, as production in high energy consumption sectors declined. Regardless of whether that's due to electricity shortage or macro control, it helps us to speed up reforming the country's economic growth pattern," said Cai.

But analysts also warn the government should maintain its focus on growth momentum, as many companies complained about the capital crunch in their responses to the survey.

China's PMI for the manufacturing sector, stood at 52, marking
the 27th consecutive month it has clocked in above the
threshold of 50, which separates growth from contraction.

Editor:Shi Jierui |Source: CNTV.CN

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