US
· U.S. manufacturing activity expanded for a third straight month in May, but growth in new orders continued to slow as factories grappled with sluggish overseas demand and weak capital spending in the energy sector.
· The Institute for Supply Management (ISM) said its index of national factory activity increased half a percentage point to a reading of 51.3 last month. The increase in the index largely reflected a jump in prices paid by factories for raw materials.
China
· The official May manufacturing Purchasing Managers' Index (PMI) came in at 50.1, Reuters reported. That was unchanged from April and a tick higher than the median 50 reading expected in a Reuters poll of 31 economists. But the report did mark the third straight month of the index hitting the key 50 level.
· Caixin manufacturing PMI index slipped to 49.2 in May, the 15th consecutive month of contraction and deterioration from April's 49.4 reading. It was the lowest figure since February. Caixin's survey tracks small and medium-sized enterprises instead of the large companies and state-owned enterprises (SOEs) that the official gauge focuses on.
· Activity in China's services industry dropped to 53.1 in May, from the previous month's 53.5 reading. activity in China's services industry dropped to 53.1 in May, from the previous month's 53.5 reading
Source: CNBC, Phillip Securities Research
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