BEIJING – China's manufacturing activities slightly expanded in May, a sign that its economic recovery remains slow but stable.
China Federation of Logistics and Purchasing and the National Bureau of Statistic on Saturday released the latest Purchasing Managers' Index, which stood at 50.8 percent for May, slightly up from the previous month. The index is on a 100-point scale, and numbers above 50 indicate an expansion.
It is contrary to a recent survey by HSBC Corp. that predicted China's manufacturing might have contracted in May.
China's top economic official, Premier Li Keqiang, said last week there was little room for additional government stimulus to boost growth. He said improvements would have to come from economic reforms.