摘要
The slight upturn in a number of indicators in May is no harbinger of an imminent economic rebound. The added value of industrial output increased 6.1% year-on-year in May, against 5.9% in April. The official PMI for manufacturing rose slightly to 50.2 from 50.1. Retail sales increased by 10.1% year-on-year, higher than the previous month （10.0%）. Twenty out of 70 leading cities saw their new home prices higher than in the previous month, compared to 18 in April.
