CLSA China PMI hits 10-month high of 51.2 in May

From iii.co.uk

Brokerage CLSA said on Monday its China Purchasing Managers' Index (PMI) rose in May to a 10-month high of 51.2 from 50.1 in April, offering fresh evidence of recovery in the world's third-largest economy. It was the second month in a row that the seasonally adjusted index, designed to provide a timely snapshot of manufacturing conditions, has been above the watershed of 50. A reading above that level indicates expansion; a figure below 50 indicates contraction. It stood below that mark from August 2008 through March of this year, as weak global demand sapped momentum from the industrial sector. Beijing has responded ... (full story)