China’s May factory activity unexpectedly contracts

05/30/2024

Less than a minute

2024.05.30 21:58

© Reuters. FILE PHOTO: An employee works on the production line of a robot vacuum cleaner factory of Matsutek in Shenzhen, China August 9, 2019. REUTERS/Jason Lee/File Photo

BEIJING (Reuters) – China’s manufacturing activity unexpectedly fell in May, an official factory survey showed on Friday, keeping alive calls for fresh stimulus as a protracted property crisis continues to weigh on businesses, consumers and investors.

The official purchasing managers’ index (PMI) fell to 49.5 in May from 50.4 in April, below the 50-mark separating growth from contraction and missing a median forecast of 50.4 in a Reuters poll.

05/30/2024

Less than a minute

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