Salem Radio Network News Monday, September 25, 2023


China factory activity slows, adding to economic strains


( ) -q-26- UNDATED (Correspondent Jeremy House) “to cool inflation.”

A survey shows China’s factory activity has decelerated in May, adding to signs its economic rebound after the end of anti-virus controls is slowing.

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TAG: Correspondent Jeremy House reporting. At home, Chinese consumer spending revived after anti-virus curbs on travel and business activity were lifted in December. But the recovery has been weaker than expected.

VERBATIM: A monthly purchasing managers’ index issued by China’s national statistics agency and an industry group declined to 48.4 from April’s 49.2 on a 100-point scale. Numbers below 50 show activity is declining. Chinese manufacturers have been hurt by weakening global demand after central banks in the United States, Europe and Asia raised interest rates to cool inflation.

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