China's manufacturing PMI slips to 50 as sector feels pressure

China's central bank cuts interest rates

On the flip side, construction and services saw a tiny boost, with their PMI inching up to 50.1 from April's 49.4.
Still, China's overall economy is slowing down; industrial output and retail sales barely grew in April.
To help out, the central bank cut interest rates to a record low and Beijing rolled out new support for migrant workers' access to city services like education and health care.