Factory activity in China expanded for a second straight month in April but at a...
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.
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