BEIJING : China's factory activity likely contracted further in May, a Reuters poll showed on Monday, adding to pressures facing the world second-biggest economy amid an uneven economic recovery from the COVID-19 pandemic.The official manufacturing purchasing managers' index (PMI) is expected to rise to 4
BEIJING : China's factory activity likely contracted further in May, a Reuters poll showed on Monday, adding to pressures facing the world second-biggest economy amid an uneven economic recovery from the COVID-19 pandemic.
An index reading above 50 indicates expansion in activity on a monthly basis and a reading below indicates contraction. April data, however, suggested momentum was weakening. Imports contracted sharply, factory gate prices fell again, property investment slumped further and industrial output and retail sales missed forecasts.
Dalian iron ore futures slid to the lowest in nearly six months last week on expectation that China's demand for the steelmaking ingredient would remain sluggish during the usual summer lull in construction.
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