MTECHTIPS GLOBAL HAPPENINGS

MTECHTIPS:-GLOBAL HAPPENINGS

The HSBC China Manufacturing Purchasing Managers' Index fell to a final reading of 49.2 in May from 50.4 in April.The result comes after China's official gauge of manufacturing released on Saturday edged up to 50.8 in May from 50.6 in April. The final result for the HSBC PMI was below its preliminary reading of 49.6, announced May 23 Consumers may not be spending, but it's not due to a lack of confidence. Consumer sentiment index reached 84.5, its highest since July 2007. American incomes failed to grow in April, leading many Americans to cut back on spending. Consumer spending dropped a seasonally adjusted 0.2% in April, the first decline since last May.