On the upside May saw growth in output and new orders, which contrasts to a decline in employment to lower costs that caused an increase in outstanding workloads. At the same time an increase in input costs and output charges increased inflationary pressure. Still, the 12-month outlook is said to have improved.
Zhengsheng Zhong, analyst at CEBM Group, a subsidiary of Caixin, commented, “Overall, operating conditions across the manufacturing sector remained stable. The growth in the price of industrial products has gained momentum, however, the export situation was still disappointing.” Source: Markit Economics