Economic news
China’s May factory activity unexpectedly contracts
2024.05.30 21:58
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.
