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Private Survey Shows China Manufacturing Expansion in May Despite Official Weakness

China's manufacturing sector expanded in May according to private survey data released Monday, outperforming expectations while official government measures painted a more subdued picture. The RatingDog China General Manufacturing Purchasing Managers' Index registered at 51, signaling expansion above the 50-point threshold that separates growth from contraction. The official manufacturing PMI declined to 50 in May from 50.3 in April, marking the lowest reading since February's 49 print and suggesting sluggish sector momentum. Goldman Sachs analysts noted the official data reflects subdued manufacturing growth, rising services activity, and ongoing construction industry contraction. Consumer spending showed mixed signals, with retail sales hitting a 40-month low in April before rebounding during an extended May 1 holiday period. According to Chinese hotel group H World, the 10 most popular destinations by occupancy rate during the holiday were in smaller cities, where rates tend to be lower than in major urban centers.