China's NBS Manufacturing PMI unexpectedly contracts to 49.5 in May vs. 50.5 expected

China’s official Manufacturing Purchasing Managers' Index (PMI) dropped from 50.4 in April to 49.5 In May, the latest data published by the National Bureau of Statistics (NBS) showed Friday.

The reading missed the market consensus of 50.5 in the reported month, by a wide margin.

The index continued to hold above the 50 mark, which separates expansion from contraction.

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