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China’s factory activity decline slows as COVID curbs ease

BEIJING (Reuters) -China’s factory activity fell at a slower pace in May as COVID-19 curbs in major manufacturing hubs were relaxed, but movement controls continued to weigh on demand and production, raising doubts about economic growth in the second quarter. The official manufacturing purchasing managers’ index (PMI) rose to 49.6 in May from 47.4 in April, the National Bureau of Statistics (NBS) said on Tuesday, beating forecasts in a Reuters poll of 48.6. China’s factory slowdown is affecting production lines in other major Asian economies with both Japan and South Korea reporting sharp declines in output.

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