China’s manufacturing recovery stuttered in May, but PMI positive for third month in a row

China’s factory activity fell back slightly in May, showing that while the recovery from coronavirus lockdown is continuing, challenges remain, according to new data released on Sunday.The National Bureau of Statistics’ (NBS) manufacturing purchasing managers’ index (PMI), an indicator of morale among the nation’s larger factories, stood at 50.6 in May, a slight drop from 50.8 in April.This was below the median forecast of a poll of analysts conducted by Bloomberg, which had expected a rise to…

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