Reported 4 months ago
Factory activity in China slowed more than expected in May, with the manufacturing purchasing managers index falling to 49.5 from 50.4 in April, indicating a further strain on an economy already grappling with a property industry crisis. The decline was primarily attributed to a drop in output, weaker new orders, and export orders, hinting at subdued demand. Analysts had forecasted the PMI to be slightly above 50, despite the economy growing faster than expected in the first quarter. Concerns over U.S. market access have intensified due to ongoing tariff disputes. China has taken measures to stabilize its housing market, but long-term reforms are deemed necessary for sustained growth.
Source: YAHOO