Economic data from China was worse than expected.
(Photo: dpa)
Beijing The mood in the Chinese economy continued to deteriorate in May. This is shown by the official Purchasing Managers’ Indices (PMI) published by China’s national statistics agency on Wednesday. The first economic indicators for May were worse than expected. This indicates that the world’s second-largest economy is recovering from last year’s corona chaos much more slowly than many had hoped.
The industrial PMI fell to 48.8 points from 49.2 in April, the weakest reading in five months. Values below 50 for the important economic barometer indicate a downturn. Analysts had expected a slight improvement in advance.
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