India, June 3 -- China's manufacturing activity contracted for the first time in eight months in May as the rise in US trade tariff damped export orders, survey results from S&P Global showed on Tuesday.
The Caixin manufacturing Purchasing Managers' Index unexpectedly fell to 48.3 in May, down from 50.4 in April. The score was seen at 50.8.
The score fell below the neutral 50.0 mark for the first time in eight months and the reading was the lowest since September 2022.
The official PMI data released over the weekend suggested that the manufacturing activity shrank at a slower pace in May. The factory PMI rose to 49.5 in May from 49.0 in April. Meanwhile, the non-manufacturing PMI dropped marginally to 50.3 from 50.4 in the previous month...