China’s factory activity slows in May
China has reported that its manufacturing activity has slowed in May.
An official survey released by the National Bureau of Statistics said Sunday that the manufacturing purchasing managers index moderated to 50 from 50.3 in April.
A PMI reading above 50 indicates expansion, and below 50 reflects contraction.
Economists say China has been relatively protected from the fallout of the three-month old Iran war, given its ample oil reserves and diversified sources for energy.
Exports have been resilient, buoyed by technology-related shipments driven by the artificial intelligence boom.
However, some analysts are cautioning that high oil prices could still dent China's economy later in the year.
China's Factory Activity Slows
- China’s manufacturing activity stayed flat in May after expanding for two straight months, reflecting the pressure from rising energy costs since the Middle East conflict began Wall Street Journal —
- China Factory Activity Worsens in Warning Sign for Economy Bloomberg —
- Soaring prices during the Iran war jeopardize travel to tourism-dependent countries in Asia The Independent —
- China's factory activity slows in May, raising questions over its economy ABC News —
- China’s factory activity slows in May, raising questions over its economy The Independent —