China Two-Speed Economic Recovery Fuels Concerns on Outlook
- Manufacturing PMIs point to contraction in factory activity
- Holiday travel booms, adding to recovery in consumer spending
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China’s economic recovery showed further signs of imbalance, with manufacturing activity contracting for the first time in months while a surge in holiday travel fueled consumer spending.
The China Caixin manufacturing purchasing managers index dropped to 49.5 last month from 50 in March, pointing to a contraction in factory output for the first time since January, Caixin and S&P Global said in a statement Thursday.