China Factory Activity Slips in May, Economic Momentum Softens

AI Summary

In May, China's factory activity saw a decline, indicating a slowdown in economic momentum. Official figures revealed that the Purchasing Managers' Index (PMI) fell to 48.8 from 49.2 in April. This contraction below the neutral level of 50 suggests a decrease in manufacturing output. The slowdown may impact global markets and supply chains, particularly affecting companies reliant on Chinese manufacturing.