An early look at Chinese business activity in May shows companies were still reluctant to grow their workforce, according to official data released Monday.
Chinese businesses in manufacturing and services laid off more workers than they hired in May, according to Purchasing Managers' Indexes released Monday by the National Bureau of Statistics.
Overall business activity in manufacturing and services did grow as production remained robust, the data showed. That's based on a survey from the National Bureau of Statistics, which polls businesses on how their operations have changed from the prior month, and compiles the responses into two Purchasing Managers' Indexes — one for manufacturing and one for services.
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