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China’s factory activity likely contracted further in May, a Reuters poll showed on Monday, adding to pressures facing the world second-biggest economy amid an uneven economic recovery from the COVID-19 pandemic.
The official manufacturing purchasing managers’ index (PMI) is expected to rise to 49.4 in May from 49.2 in April, according to the median forecast in a Reuters poll.
An index reading above 50 indicates expansion in activity on a monthly basis and a reading below indicates contraction.
China’s economy is recovering from three years of stringent COVID curbs, growing 4.
