3 reasons expectations for today’s manufacturing PMI from China are subdued

Coming up today, Monday 31 May 2021, from China at 0100 GMT, official PMIs for May

  • Manufacturing is expected at 51.1, i.e. unchanged on the month (prior 51.1)

  • Non-manufacturing expected 55.1, prior 54.9

  • Composite prior 53.3 

Scanning across various sources shows expectations for manufacturing are for continued expansion but at levels little changed from April, mainly due to:L

  • the global shortage of semiconductors is of particular concern to Chinese industry 
  • international logistic congestion continues 
  • which has resulted in rising delivery costs
Coming up today, Monday 31 May 2021, from China at 0100 GMT, official PMIs for May

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