China: PMIs data is largely positive – Deutsche Bank

Analysts at Deutsche Bank explain that China’s official May PMIs data is largely positive as the manufacturing reading was unchanged during the month at 51.2 however that did compare to expectations for a small decline to 51.0.

Key Quotes

“The new orders component also held steady at 52.3 while the nonmanufacturing reading rose a solid 0.5pts to 54.5. Following a two-day break, Chinese bourses were initially higher following that data.”