Latest news with #NationalBureauOfStatistics
NHK
a day ago
- Business
- NHK
China's factory activity below 50 for 2 straight months amid US trade tension
A key gauge of China's manufacturing activity has fallen below the boom-or-bust line for the second straight month. China and the United States agreed to temporarily reduce tit-for-tat levies in May, but uncertainties remain. The Purchasing Managers' Index for May came in at 49.5. That's up 0.5 points from the figure the previous month. The National Bureau of Statistics surveyed 3,200 manufacturers in compiling the index. Figures above 50 represent growth while those below indicate contraction. The gauge for large companies stood at 50.7, but midsize firms were at 47.5, and small enterprises at 49.3. The readings for non-manufacturers, such as service sector businesses, dropped 0.1 percentage points from the previous month to 50.3 in May. These figures follow a trade truce reached last month between China and the United States. Under the deal, both sides cut their additional tariffs by 115 percentage points, with part of the cut suspended for 90 days. It raises hopes of easing tension. But concerns remain that friction may return if their negotiations break down.
Yahoo
2 days ago
- Business
- Yahoo
China's factory activity contraction eases after trade war truce
(Bloomberg) — China's factory activity contracted at a slower rate in May after a reprieve in the tariff war with the US unclogged trade flows, even as weak domestic demand continues to weigh on the economy. Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania NYC Congestion Toll Brings In $216 Million in First Four Months The Economic Benefits of Paying Workers to Move Where the Wild Children's Museums Are The official manufacturing purchasing managers' index was 49.5, versus 49 in April, the National Bureau of Statistics said Saturday. That matched the median estimate of economists surveyed by Bloomberg. A reading below 50 indicates contraction. The non-manufacturing measure of activity in construction and services fell to 50.3 from 50.4 in April, the statistics office said. That compares with a forecast of 50.5. The composite index rose to 50.4. The PMI figures are the first official data available each month to provide a snapshot of the health of the Chinese economy. The latest readings capture the initial aftermath of the trade truce, after Beijing and Washington agreed to reduce tariffs for 90 days beginning May 14. The strength of manufacturing in the months ahead is still in question given an uncertain export outlook, and especially as tensions rise again in recent days with Washington. Although the US lowered the average rate of tariffs to roughly 40% following talks in Geneva, that level is still enough to reduce American imports from China by around 70% over the medium term, according to estimates from Bloomberg Economics. Even so, the reprieve on tariffs has sent trade between China and the US surging. Analysts surveyed by Bloomberg lifted forecasts for growth and exports this year following the agreement in Geneva, but still expect deflationary pressures to get worse in China, which has already seen economy-wide prices fall for two straight years. Gross domestic product is forecast to expand 4.5% this year, based on a Bloomberg survey conducted in late May, still significantly lower than the around 5% target set by Chinese policy makers. Economists expect exports will grow 1.1% in 2025 versus a year ago, an upgrade from the 1% contraction they expected in April. —With assistance from Zhang Dingmin. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? How Coach Handbags Became a Gen Z Status Symbol AI Is Helping Executives Tackle the Dreaded Post-Vacation Inbox ©2025 Bloomberg L.P.
Yahoo
3 days ago
- Business
- Yahoo
China's factory activity contraction eases after trade war truce
(Bloomberg) — China's factory activity contracted at a slower rate in May after a reprieve in the tariff war with the US unclogged trade flows, even as weak domestic demand continues to weigh on the economy. Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania NYC Congestion Toll Brings In $216 Million in First Four Months The Economic Benefits of Paying Workers to Move Where the Wild Children's Museums Are The official manufacturing purchasing managers' index was 49.5, versus 49 in April, the National Bureau of Statistics said Saturday. That matched the median estimate of economists surveyed by Bloomberg. A reading below 50 indicates contraction. The non-manufacturing measure of activity in construction and services fell to 50.3 from 50.4 in April, the statistics office said. That compares with a forecast of 50.5. The composite index rose to 50.4. The PMI figures are the first official data available each month to provide a snapshot of the health of the Chinese economy. The latest readings capture the initial aftermath of the trade truce, after Beijing and Washington agreed to reduce tariffs for 90 days beginning May 14. The strength of manufacturing in the months ahead is still in question given an uncertain export outlook, and especially as tensions rise again in recent days with Washington. Although the US lowered the average rate of tariffs to roughly 40% following talks in Geneva, that level is still enough to reduce American imports from China by around 70% over the medium term, according to estimates from Bloomberg Economics. Even so, the reprieve on tariffs has sent trade between China and the US surging. Analysts surveyed by Bloomberg lifted forecasts for growth and exports this year following the agreement in Geneva, but still expect deflationary pressures to get worse in China, which has already seen economy-wide prices fall for two straight years. Gross domestic product is forecast to expand 4.5% this year, based on a Bloomberg survey conducted in late May, still significantly lower than the around 5% target set by Chinese policy makers. Economists expect exports will grow 1.1% in 2025 versus a year ago, an upgrade from the 1% contraction they expected in April. —With assistance from Zhang Dingmin. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? How Coach Handbags Became a Gen Z Status Symbol AI Is Helping Executives Tackle the Dreaded Post-Vacation Inbox ©2025 Bloomberg L.P.
The Independent
3 days ago
- Business
- The Independent
China's factory activity contracts in May, but there are signs of improvement
China's factory activity contracted in May, according to an official survey released on Saturday, although the decline slowed from April as the country reached a deal with the U.S. to slash President Donald Trump 's sky-high tariffs. China 's purchasing managers index rose from 49.0 in April to 49.5 in May, the National Bureau of Statistics said. PMI is measured on a scale from 0 to 100, where 50 marks the cutoff between expansion and contraction. Meanwhile, the manufacturing index showed growth in the sector, although the index measuring new orders remained under 50 despite some improvement. National Bureau of Statistics senior statistician Zhao Qinghe said some companies with U.S. business reported accelerated resumption of foreign trade orders, and there was an improvement in import and export conditions. The U.S.-China deal, reached earlier this month, cuts Trump's tariffs from 145% to 30% for 90 days, creating time for negotiators from both sides to reach a more substantive agreement. China also reduced its taxes on U.S. goods from 125% to 10%. But the remaining tariffs are still higher than they were before Trump took office, and businesses and investors face uncertainty about whether the truce will last. Trump said Friday that he will no longer be 'Mr. NICE GUY' with China on trade, declaring in a social media post that the country had broken an unspecified agreement with the United States. He later said in the Oval Office that he will speak with Chinese President Xi Jinping and 'hopefully we'll work that out,' while still insisting China had violated the agreement. Over the past week, tensions between Beijing and Washington also intensified after the U.S. said it would start revoking visas for Chinese students studying in the country. China has lodged a protest with the U.S. over the matter, calling the decision unreasonable.
Washington Post
3 days ago
- Business
- Washington Post
China's factory activity contracts in May, but there are signs of improvement
BEIJING — China's factory activity contracted in May, according to an official survey released on Saturday, although the decline slowed from April as the country reached a deal with the U.S. to slash President Donald Trump's sky-high tariffs . China's purchasing managers index rose from 49.0 in April to 49.5 in May, the National Bureau of Statistics said. PMI is measured on a scale from 0 to 100, where 50 marks the cutoff between expansion and contraction.
