CHINA's manufacturing activity fell in May with the manufacturing purchasing manager's index (PMI) dropping to 49.5, encouraging calls for economic stimulus as the property crisis continues to impact business, consumer and investor confidence, reports Reuters.
The index measured at 50.4 in April according to the National Bureau of Statistics (NBS), indicating a drop below the 50-mark separating growth from contraction and missing analysts' forecast of 50.4.
The disappointing number adds to a series of recent indicators showing the $18.6 trillion economy is struggling to get back on its feet, eroding earlier optimism seen after better-than-expected output and trade data.
'I think the data particularly reflects soft domestic demand, the housing sector continued to worsen and retail sales were not strong,' said Xu Tianchen, senior economist at the Economist Intelligence Unit.
SeaNews Turkey
The index measured at 50.4 in April according to the National Bureau of Statistics (NBS), indicating a drop below the 50-mark separating growth from contraction and missing analysts' forecast of 50.4.
The disappointing number adds to a series of recent indicators showing the $18.6 trillion economy is struggling to get back on its feet, eroding earlier optimism seen after better-than-expected output and trade data.
'I think the data particularly reflects soft domestic demand, the housing sector continued to worsen and retail sales were not strong,' said Xu Tianchen, senior economist at the Economist Intelligence Unit.
SeaNews Turkey