China’s manufacturing activity surges, Caixin PMI shows, but global risks grow

News Snapshot:

Open this photo in gallery: Employees work on a refrigerator assembly line at a factory for LG Electronics, in Taizhou, China, on May 23.STR/Getty Images China’s factory activity grew the fastest in about two years in May due to production gains and new orders, particularly at smaller firms, a private sector survey showed on Monday, lifting the outlook for the second quarter. The Caixin/S&P Global manufacturing PMI rose to 51.7 in May from 51.4 the previous month, the highest since June 2022, and beating analysts’ forecasts of 51.5. The 50-point mark separates growth from contraction. To counter soft domestic demand...