China’s factory sector contracts as recovery concerns linger

The contraction in manufacturing activity showed there’s still uncertainty if the recovery can be sustained. (Image: CFOTO/Future Publishing via Getty)

Bloomberg

Tue, 02 May 2023

China’s manufacturing activity unexpectedly contracted in April, a sign the economic recovery remains patchy and may be struggling to sustain momentum.The official manufacturing purchasing managers’ index fell to 49.2 from 51.9 in March, the National Bureau of Statistics said on Sunday. The gauge dropped below the level of 50 – which signals contraction from the previous month – for the first time since December. Economists surveyed by Bloomberg had forecast 51.4.A non-manufacturing gauge of activity in the services...

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