China’s Factory Activity Gets Back to Growth, but Recovery Remains Patchy, Caixin PMI Shows

China’s manufacturing activity started growing again in May after one month of contraction as both supply and demand picked up, a Caixin-sponsored survey showed Thursday.

The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives an independent snapshot of the country’s manufacturing sector, ticked up to 50.9 from 49.5 the previous month. A reading below 50 indicates a contraction in activity, while a number above that signals an expansion.