China's factory outlook holds firm; manufacturing PMI at 51 in May

A gauge of China’s manufacturing industry was little changed in May as soaring input prices weighed on smaller factories, suggesting the economy’s recovery momentum might have peaked for now.
 
The official manufacturing purchasing managers’ index slowed slightly to 51 in May, the National Bureau of Statistics said. The non-manufacturing gauge, which measures activity in the construction and services sectors, climbed to 55.2. Readings above 50 indicate an expansion in output.
 
The official manufacturing reading pointed to a stabilisation in output, with the fewer working days in the month compared to April possibly affecting the results. Recent rapid increases