China May 2024 Official Manufacturing PMI 49.5 (expected 50.5) ...Middle East

Poor data from China. Manufacturing PMI 49.5 and back into contractionexpected 50.5, prior 50.4Bumpy road:Services 51.1, missing estimates and falling below April's result. Still in expansion though. expected 51.5, prior 51.2The Composite comes in at 51.0prior 51.7--China has two primary Purchasing Managers' Index (PMI) surveys - the official PMI released by the National Bureau of Statistics (NBS) and the Caixin China PMI published by the media company Caixin and research firm Markit / S&P Global.The official PMI survey covers large and state-owned companies, while the Caixin PMI survey covers small and medium-sized enterprises. As a result, the Caixin PMI is considered to be a more reliable

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