Manufacturing hits this year's highest level

PMI increases in May for third consecutive month, indicating a stabilizing economy

Growth in China's manufacturing sector continued to accelerate in May, rising to the highest level this year and adding to signs of a stabilizing economy, data released on Sunday indicate.

The Purchasing Managers Index, a gauge of manufacturing activity, rose to 50.8 in May, from 50.4 in April, according to the National Bureau of Statistics and the China Federation of Logistics and Purchasing.