An official measure of factory activity in China Monday showed both manufacturing export demand and employment contracting, the same day as similarly downbeat results from a private survey, according to dpa. China's official manufacturing purchasing manager's rose slightly to 50.2 in May from 50.1 in April, the official Xinhua news agency reported. Official readings have been near the 50 mark since December. A figure above 50 generally means a positive outlook in the manufacturing sector, while below 50 is taken as a negative reading. HSBC's purchasing manager's index posted 49.2 in May, up from 48.9 in April. China's economy grew by 7 per cent in the first three months of the year, its slowest quarterly pace in six years.
