China Caixin / Markit Services PMI (May) 41.4 (expected 47.3)

Caixin / Markit Services PMI (May) 41.4, deep contraction still.

• expected 47.3
• prior 36.2

Composite 42.2

• prior 37.2

This wraps up the PMIs from China for May.

The official PMIs were out last week. They also showed improvement, but still in contraction.

• China's PMIs improved in May but both manufacturing and services remained in contraction

Also last week, the Caixin manufacturing PMI:

• China Caixin / Markit Manufacturing PMI (May) 48.1 (expected 47)

Terrible result, but lockdowns crush services PMIs: