China factory activity slips to 7-month low on weak demand

China’s factory activity shrank for the first time in seven months in May as new orders fell, a preliminary survey of purchasing managers showed, adding to concerns that a recovery in the world’s second-largest economy is sputtering.

The flash HSBC Purchasing Managers’ Index for May fell to 49.6, slipping under the 50-point level demarcating expansion from contraction for the first since October. The final HSBC PMI stood at 50.4 in April.

via Business feed http://www.scmp.com/business/economy/article/1243989/china-factory-activity-slips-7-month-low-weak-demand