A private survey shows China's manufacturing activity for May was steady at 50.2
It was lower than April's reading of 50.1. The official non-manufacturing PMI for May was 54.3 — unchanged from April.
Before the release of the Caixin indicator, an economist from Mizuho Bank said the data "will not supplant the overall sense of economic pessimism" even if it turns out "unexpectedly resilient." "What's more, the wider strategic tech war playing out with Huawei also creates a chill around the outlook for not only for exports, but for wider commercial activity as well," he added.
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