Chinese services PMI misses forecasts at 51.2
The services PMI (purchasing managers’ index) for China (FXI) came in at 51.2 for May 2016. This was the country’s lowest reading since March 2016.
The PMI figure came in below the estimated forecast of 52.0 and the previous month’s figure of 51.8. New orders rose more slowly this month, as there was a drop in business expectations.
Japan and Australia post higher PMIs, India records slower growth
Japan’s (EWJ) services PMI moved into an expansionary phase, rising to 50.4 in May compared to 49.3 in April as employment in the country continued to increase.
Malaysian exports rise while imports fall
Malaysia (EWM) displayed a surplus trade balance in April this year, reported at 9.1 billion Malaysian ringgit, lower than the previous month’s surplus of 11.2 billion ringgit. The trade surplus was driven by a 1.6% rise in exports as imports fell by 2.3% in April on an annual basis.