China's factory activity expanded at a steady but modest pace in May, as ex...
BEIJING, - China’s factory activity expanded at a steady but modest pace in May, as export orders bounced from a contraction, a private business survey showed, but the overall economic picture was mixed as output growth slipped and factory prices stalled.
The Caixin/Markit Manufacturing Purchasing Managers’ Index also showed only modest expansion at 50.2, unchanged from April, and above economists’ expectations of 50.0. The Caixin survey showed factory output expanded at the slowest pace since January, and while some firms raised production due to higher new orders, others commented on relatively subdued demand conditions.
Most economists say Beijing will need to roll out more stimulus to support growth, with expectations centering on further cuts in the amount of cash banks hold as reserves and fiscal spending.
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