Growth in China’s factory output slowed for a third straight month in May, likely weighed down by disruptions caused by Covid-19 outbreaks in the country’s southern export powerhouse of Guangdong. Retail sales and investment growth also came in below market expectations, but analysts say underlying activity still looks quite solid, noting headline readings remain highly distorted by comparisons to the pandemic plunge early last year. The Chinese economy has largely shaken off the gloom from the coronavirus slump, but officials warn its recovery remains uneven amid challenges including soft domestic demand, rising raw material prices and global supply chain disruptions. China’s rapid recover
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