By Vivek Kumar China’s manufacturing activity unexpectedly contracted in May, adding pressure on policymakers in the world’s No. 2 economy, already grappling with a prolonged economic crisis marked by a property downturn and high unemployment. The National Bureau of Statistics (NBS) reported that the official purchasing managers’ index (PMI) dropped to 49.5 in May, missing expectations and reversing the growth seen in April and March. A PMI reading below 50 indicates a contraction compared to the previous month. “The sizeable drop in the official PMIs this month suggests that the recovery has …