This article in the Wall Street Journal is not fresh news but it a good summary of the economic slowdown in China:
- Any sustained slowdown in China will be felt globally, depriving the world economy of one of its most dependable engines when inflation and war are raising recession fears in the U.S. and Europe this year.
- On Saturday, purchasing manager indexes released by China’s government showed contractions in factory and service-sector activity for a second straight month in April. They fell to their lowest levels since the pandemic began in 2020.
- Cement production in mid-April was less than 40% of full capacity. Shipments of smartphones dropped 18% from a year earlier in the first quarter. Excavator sales within China were down 61% in April compared with the previous year.
Link to the Journal piece (may be gated)
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The PMIs referred to can be found here:
