![]() ![]() The Communist Party’s Politburo - the top decision-making body led by President Xi Jinping - left its economic policy stance relatively unchanged on Friday, saying the economy still suffers from insufficient demand. The mixed PMI figures suggest “China’s post-Covid recovery has somewhat lost steam and calls for continued policy support,” said Zhou Hao, chief economist at Guotai Junan International Holdings Ltd. That underscores Chinese leaders’ cautious growth outlook at a meeting Friday and the need for more policy stimulus. The data suggest China’s recovery remains lopsided, with the production side of the economy lagging the rebound in consumption. Chinese consumers, though, continued to spend on travel and shopping. Purchasing managers’ indexes released Sunday showed an unexpected decline in factory activity in April, weighed down by weaker global demand for Chinese exports. ![]()
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