BEIJING : China's factory activity unexpectedly swung to growth in May from decline, a private sector survey showed on Thursday, driven by improved production and demand, helping struggling firms that have been hit by slumping profits.The Caixin/S&P Global manufacturing purchasing managers' index (PMI) ro
BEIJING : China's factory activity unexpectedly swung to growth in May from decline, a private sector survey showed on Thursday, driven by improved production and demand, helping struggling firms that have been hit by slumping profits.
The reading surpassed expectations of 49.5 in a Reuters poll, a stark contrast to a deeper contraction activity seen in the official PMI released on Wednesday. The manufacturing subindexes showed factory output rose at the fastest clip in 11 months while new orders including new exports expanded in May.
Firms, grappling with a slump in industrial profits in April, remained cautious about hiring, with the employment subindex shrinking for the third consecutive month in May.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's factory activity falls faster than expected on weak demand - PMIBEIJING : China's manufacturing activity contracted faster than expected in May on weakening demand, an official factory survey showed on Wednesday, heaping pressures on policymakers to shore up the patchy economic recovery.The official manufacturing purchasing managers' index (PMI) was 48.8 from 49.2 in
Read more »
Japan's factory activity expands first time in 7 months - PMITOKYO - Japan's factory activity expanded in May for the first time in seven months thanks to increases in output and new orders and buoyed by a positive outlook for the year ahead, a private sector survey showed on Thursday.The final au Jibun Bank Japan manufacturing purchasing managers' index stood at 5
Read more »
Mitsubishi Motors to extend suspension of production in China: ReportTOKYO: Mitsubishi Motors will extend a suspension of its production in China beyond May, the Yomiuri newspaper reported on Tuesday (May 30), highlighting struggles the Japanese car maker faces in the world's largest auto market. Mitsubishi Motors is discussing when to resume production in China with its lo
Read more »
JPMorgan's Dimon says US, China need to have 'real engagement'HONG KONG: JPMorgan Chase & Co CEO Jamie Dimon on Wednesday (May 31) said the United States and China need to have 'real engagement', during his first visit to China since his 2021 comment about the bank outlasting China's ruling party sparked uproar. 'You're not going to fix these things if you are ju
Read more »
China foreign minister meets with Elon Musk in BeijingBEIJING — China will create a better market-oriented business environment for enterprises from all countries, including Tesla, China's foreign minister Qin Gang said during a meeting with Tesla's Elon Musk on Tuesday (May 30). China will continue to unswervingly promote high-level opening-up and strive to create a better international business environment, Qin told Musk, according to a statement from the...
Read more »
UN says concerned about lack of women in China's top governmentHONG KONG - An absence of women among China's top leadership is concerning, the United Nations said in a report, as it recommended China adopt statutory quotas and a gender parity system to quicken equal representation of women in government. The recommendations for China by the UN Committee on the Elimination of Discrimination against Women, published on Tuesday (May 30),...
Read more »