China factory activity slows as global slump drags on growth

Sun Online Desk

31st May, 2020 01:50:25 printer

China factory activity slows as global slump drags on growth

Factory activity in China expanded at a slower pace in May as the country attempts to get back on track after the coronavirus, official data showed Sunday, with the global economic slump making the sector’s recovery difficult.

China’s factories have stirred back to life after the lifting of strict lockdown measures imposed when the deadly pathogen surfaced in the central city of Wuhan, but the spread of the virus worldwide has dragged down key foreign markets — weighing heavily on Chinese exports.

The Purchasing Managers’ Index (PMI), a key gauge of activity in China’s factories, was at 50.6 points in May, remaining above the 50-point mark separating growth from contraction each month.

But the figure was down slightly from 50.8 the month before, and 52.0 in March, according to the National Bureau of Statistics (NBS).

 


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