November 29, 2022

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China Caixin/Markit PMIs Services 55.1 and Composite 53.8 for May

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Wrapping up the PMIs from China for last month. 

Services 55.1
Composite 53.8

Falls for both and both still in expansion. 

From the report:

  • fall in overseas demand
  • gauge of export orders  into contraction
  • rrowth in total new orders slipped
  • services firms increased their staffing levels for the third straight month
  • inflation pressures – input costs rising at a sharper rate in May and reports of more expensive raw materials, energy, staff and transport

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