China factory activity slows, adding to economic strains
A survey shows China’s factory activity has decelerated in May, adding to signs its economic rebound after the end of anti-virus controls is slowing
By AP News
Published - May 30, 2023, 11:30 PM ET
Last Updated - Jun 21, 2023, 02:48 PM EDT
BEIJING (AP) — China's factory activity decelerated in May, a survey showed Wednesday, adding to signs its economic rebound after the end of anti-virus controls is slowing.
A monthly purchasing managers' index issued by the national statistics agency and an industry group declined to 48.4 from April's 49.2 on a 100-point scale on which numbers below 50 show activity declining.
Chinese manufacturers have been hurt by weakening global demand after central banks in the United States, Europe and Asia raised interest rates to cool inflation.
