China factory activity nudges down on slower demand, services strong ...Middle East

BEIJING: Factory activity in China nudged down slightly in May on slower demand and higher raw material prices, while the services industry boomed over the Labour Day break, official data showed Monday.The Purchasing Managers’ Index (PMI), a key gauge of China’s manufacturing activity, was 51.0 — slightly down from 51.1 in April but above the mark separating growth from contraction, said the National Bureau of Statistics.But there are risks ahead, analysts warned, including shortages of parts — especially semiconductors — and rising commodity prices.Although factory production has been “rising steadily”, with overall activity exceeding the same periods in the past two years, demand growth ha

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