China’s Factory Slump Worsens as Production Contracts Further

China’s economic recovery has hit a rough patch as factory production contracts further, according to CNN. China’s factory activity fell faster than expected, worsening the country’s factory slump, per Bloomberg Television. The manufacturing purchasing managers index (PMI) also shrank further in May, as reported by Morning Bid by Reuters notes that all eyes are on China’s PMIs. These are worrying signs for China’s economic recovery as the country tries to move forward from the pandemic. Experts are keeping a close eye on developments in China to see if recovery efforts will pick up.