China’s manufacturing sector hit a standstill in May, with the official Purchasing Managers’ Index (PMI) from the National Bureau of Statistics (NBS) holding at 50.0. This reading marks the boundary between expansion and contraction, signaling no growth in factory activity. In contrast, the non-manufacturing PMI, which covers services and construction, inched up to 50.1 from 50.0 in April, suggesting a marginal improvement in the broader economy.