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 dipped below the 50 mark, which separates expansion from contraction.
The NBS Non-Manufacturing PMI declined to 51.1 in May versus April’s 51.2 figure and the estimates of 51.5.
AUD/USD reaction to China's PMI data
The downbeat Chinese PMIs are weighing on the Australian Dollar, as AUD/USD erasing gains to trade neutral near 0.6630, as of writing.
(This story was corrected on Friday at 6:24 GMT to say that "The index dipped below the 50 mark", not continued to hold above the 50 mark)
