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China factory activity slows, adding to economic strains

BEIJING (AP) — A survey shows China’s factory activity decelerated in May, adding to signs an 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. Numbers below 50 show activity is 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. At home, Chinese consumer spending revived after anti-virus curbs on travel and business activity were lifted in December. But the recovery has been weaker than expected.

Article Topic Follows: AP National News

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