China's industrial activity slowed in May
Industrial activity in China remained stable during May, with the official Purchasing Managers' Index (PMI) for the manufacturing sector decreasing slightly to 50 points from 50.3 points in April, indicating a modest slowdown in growth. The sub-index for new orders fell to 49.9 points, while production stood at 51.2 points, and raw material inventories reached 48.6 points. Despite this, China was less affected by the global energy shock caused by the Iran war, thanks to its abundant reserves, and it continues to rely heavily on exports to Europe and Southeast Asia to bolster its economy.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)