Official manufacturing PMI suggests more factory activity in contrast with HSBC reading

China’s official manufacturing Purchasing Managers’ Index gauging factory activity rose to 50.2 in May, just above the 50-point mark delineating growth and contraction, Bloomberg reported, citing data released by the National Bureau of Statistics. While the figure suggested government measures to cushion the country’s economy have had some effect, it conflicted substantially with a separate, independent manufacturing index produced by HSBC Holdings and Markit Economics which gave a reading of 49.2 for last month. The official non-manufacturing PMI, a gauge of services and construction, was down by 0.2 from last month for a reading of 53.2 in May.