Reported 4 months ago
China's manufacturing activity unexpectedly dropped to 49.5 in May from 50.4 in April, according to the National Bureau of Statistics (NBS). The decline is attributed to soft domestic demand, a worsening housing sector, and sluggish retail sales. Analysts are calling for more stimulus measures as the property crisis continues to impact China's economy, with the IMF revising up China's growth forecast but warning of ongoing risks in the property sector.
Source: YAHOO