Caixin manufacturing PMI slips below 50 in May

BEIJING, June 1 (Xinhua) -- A private survey showed Thursday that China's manufacturing activities have slowed in May, as an index for the sector fell into the contraction territory.

The Caixin China General Manufacturing Managers' Index (PMI) slipped to 49.6 in May from 50.3 in April, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media Co. Ltd.

A reading above 50 indicates expansion, while a reading below 50 represents contraction. This is the first time in 11 months that the index dropped below 50.