China factory activity contracts for first time in three months
Beijing (AFP) May 31, 2024
Factory activity in China shrank for the first time in three months in May, data showed Friday, a setback for Beijing as the sector is seen as a key driver of a fragile economic recovery owing to sluggish consumer spending. The manufacturing purchasing manager's index (PMI) - a key measure of factory output - dipped to 49.5 last month, from April's 50.4, according to the National Bureau of
Factory activity in China shrank for the first time in three months in May, data showed Friday, a setback for Beijing as the sector is seen as a key driver of a fragile economic recovery owing to sluggish consumer spending. The manufacturing purchasing manager's index (PMI) - a key measure of factory output - dipped to 49.5 last month, from April's 50.4, according to the National Bureau of