Virus hits exports; manufacturing sluggish in China
BEIJING — China’s manufacturing activity expanded in May but at a sluggish pace for the second straight month as the coronavirus pandemic weighed on the global economy.
A monthly purchasing managers’ index issued Sunday slipped to 50.6, down from 50.8 in April. A reading above 50 means that manufacturing is growing.
The figures indicate that manufacturing picked up in May, although more slowly than the previous month, said Zhao Qinghe, a senior statistician at the National Bureau of Statistics.
The index, compiled by the statistics bureau and the official China Federation of Logistics & Purchasing, has bounced back from a historic low of 35.7 in February, when many factories were shut at the peak of the virus outbreak in China.
By Associated Press