China’s Manufacturing Activity Tumbles Into Contraction
Digest more
China’s manufacturing sector had its worst slump since September 2022, according to a private survey, as higher US tariffs took a toll on smaller exporters despite a truce in the trade war with the US.
European manufacturing took another step towards stabilisation in May but U.S. activity contracted for a third straight month and Asian factory activity shrank as soft demand in China and U.S. tariffs took a heavy toll,
China added fuel to simmering trade tensions with the US, setting investors on guard as they turned the page on a bullish May.
China’s factory activity contracted at a slower rate in May after a reprieve in the tariff war with the US unclogged trade flows, even as weak domestic demand continues to weigh on the economy. The official manufacturing purchasing managers’ index was 49.
SINGAPORE] Singapore’s overall factory activity improved in May, but remained in contraction. This was as global powers’ trade tensions de-escalated, but the outlook remains uncertain. Read more at The Business Times.