China manufacturing data suggests some damage from trade war

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AP Beijing
Last Updated : Jun 03 2019 | 9:10 PM IST

A report Monday on Chinese manufacturing suggested that Beijing's trade war with the Trump administration is causing economic damage.

Surveys of manufacturers across the region for May showed that business confidence has been shaken by the conflict over President Donald Trump's demands that Beijing change its industrial planning strategy and find other ways to redress its perennially huge trade surpluses.

A private survey, the Caixin manufacturing purchasing managers' index, or PMI, for China held steady at 50.2 in May, just above the 50 level that distinguishes between expansion and contraction.

But business confidence slipped to its lowest level since the series began in April 2012.

The official manufacturing PMI, issued Friday, sank to one of the lowest levels in three years.

China showed no signs of budging over the Trump administration's demands.

It issued a report over the weekend saying it would not back down on "major issues of principle."
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First Published: Jun 03 2019 | 9:10 PM IST

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