A private survey of China’s factory sector showed on Monday that manufacturing activity was slightly better than expected. The Caixin/Markit factory Purchasing Managers’ Index for May was 50.2. Analysts polled by Reuters had expected the indicator to come in at 50. The PMI reading for April was 50.2. PMI readings above 50 indicate expansion, while those below that signal contraction. Last week, China’s official manufacturing PMI for May came in at 49.4, lower than the 49.9 economists polled by Reuters had forecast. It was lower than April’s reading of 50.1. The official non-manufacturing PMI for May was 54.3 — ... (full story)