China's May factory activity unexpectedly shrinks as tariffs dent sentiment — worst drop since 2022
China's May factory activity unexpectedly shrinks as tariffs dent sentiment — worst drop since 2022
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China's May factory activity unexpectedly shrinks as tariffs dent sentiment — worst drop since 2022
KEY POINTS
- China’s manufacturing activity in May shrank at the fastest pace since September 2022, a private survey showed.
- Official PMI released over the weekend showed China’s manufacturing activity contracted for a second month in May.
- The divergence between the official and Caixin PMI readings may be partly owed to the surveys’ timing differences, said economists at Goldman Sachs.