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Caixin China General Manufacturing PMI: Manufacturing output growth improves to 11-month high
Manufacturing business conditions in China improved for the first time in three months during May, according to latest PMI data. Production expanded at the quickest rate in nearly a year, supported by a fresh rise in overall new business amid reports of firmer client demand. This in turn contributed to increases in purchasing activity and stocks of inputs. At the same time, further improvements in supplier capacity helped to shorten average delivery times and ease cost pressures. Notably, input costs fell solidly in May, with firms often passing on savings to clients in the form of lower selling prices. However, ... (full story)