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中国5月制造业采购经理人指数升至49.5（之前为49.0），非制造业为50.3（之前为50.4）。我怀疑，随着这一日期的临近，兴奋和兴奋将会增加，但最终会破灭。抱怨够多了，周末到了！

China May Manufacturing PMI rose to 49.5 (prior 49.0), Non-manufacturing 50.3 (prior 50.4).I suspect as that date approaches excitement and pumping will build, only to be dashed. Enough whining, its the weekend!

2025年4月，卢旺达生产者价格同比上涨2.4%，较上月4.2%的涨幅有所缓解，标志着生产者通胀连续第五个月出现。最新数据也是自1月以来最疲软的生产者通胀率，制造业价格上涨速度较慢（2.9%对3月的5.1%），而采矿和采石业则稳定在1.1%。与此同时，电力、天然气、蒸汽和空调供应活动的价格保持不变。4月份生产者价格指数环比下跌1.9%，此前3月份下跌0.6%，这是连续第三个月下跌，也是10个月来最大跌幅。

Producer prices in Rwanda climbed 2.4% year-on-year in April 2025, easing from a 4.2% rise in the previous month and marking the fifth consecutive month of producer inflation. The latest reading was also the softest producer inflation rate since January, with manufacturing prices rising more slowly (2.9% vs. 5.1% in March), while mining and quarrying remained steady at 1.1%. Meanwhile, prices in electricity, gas, steam & air conditioning supply activities remained unchanged. On a monthly basis, producer prices fell 1.9% in April, following a 0.6% decline in March, marking the third consecutive monthly decrease and the steepest drop in 10 months.

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China’s official NBS Non-Manufacturing PMI edged down to 50.3 in May 2025 from 50.4 in the previous month, missing market expectations of 50.6 and marking the lowest level since January. The latest reading underscored concerns over the impact of rising U.S. tariffs on China’s service sector, despite a temporary trade war pause between Beijing and Washington. Still, both new orders (46.1 vs 44.9) and foreign demand (48.0 vs 42.2) shrank at a slower pace. At the same time, employment remained weak (45.5 vs 45.5), while delivery times lengthened slightly (51.1 vs 50.8), indicating lingering supply chain pressures. On the cost side, input prices declined for the fourth straight month, although the pace of decline moderated (48.2 vs 47.8). Selling prices also fell but at the softest rate since September 2024 (47.3 vs 46.6). Finally, business confidence remained positive despite slipping to its lowest in eight months (55.9 vs 56.0).

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China’s official NBS Non-Manufacturing PMI edged down to 50.3 in May 2025 from 50.4 in the previous month, missing market expectations of 50.6 and marking the lowest level since January. The latest reading underscored concerns over the impact of rising U.S. tariffs on China’s service sector, despite a temporary trade war pause between Beijing and Washington. Still, both new orders (46.1 vs 44.9) and foreign demand (48.0 vs 42.2) shrank at a slower pace. At the same time, employment remained weak (45.5 vs 45.5), while delivery times lengthened slightly (51.1 vs 50.8), indicating lingering supply chain pressures. On the cost side, input prices declined for the fourth straight month, although the pace of decline moderated (48.2 vs 47.8). Selling prices also fell but at the softest rate since September 2024 (47.3 vs 46.6). Finally, business confidence remained positive despite slipping to its lowest in eight months (55.9 vs 56.0).