BEIJING - Factory activity in China expanded for a second straight month in April but at a much slower pace, an official survey showed on Tuesday, suggesting the economy is still struggling to gain traction despite a flurry of support measures.
The weak manufacturing readings, along with softer construction growth, could stoke debate over how much more stimulus China will need to generate a sustainable recovery. Factory output expanded at a slower pace as growth in new orders also moderated. A sub-index for inventories of raw materials also pulled back significantly from March’s seven-month high.
President Donald Trump said on Thursday that he would soon host Chinese leader Xi Jinping at the White House, setting the stage for a possible agreement on trade between the world’s two largest economies. Better-than-expected March data had prompted a major shift in the market’s expectations for more stimulus this year, with analysts and investors scaling back forecasts for the timing and size of further support measures.
The hell is that thing?
Not that unexpectedly.
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Source: MarketWatch - 🏆 3. / 97 Read more »