China's factory activities unexpectedly returned to growth in May - private survey

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China’s factory activity unexpectedly returned to growth in May as the economy emerge from strict measures to contain the coronavirus outbreak, but the improvement was marginal as export orders continued to shrink.

The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI), which mainly track medium and small-sized companies and private firms, rose to 50.7 last month, improving from April’s contractionary 49.4. The 50-mark separates growth from contraction on a monthly basis. That's better than a reading of 49.6 expected by analysts in a Reuters poll.

May’s reading . . .

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