Factory activity in China likely contracted for a fourth straight month in March...
BEIJING - Factory activity in China likely contracted for a fourth straight month in March, a Reuters poll showed, suggesting the economy is still losing steam and adding to worries about faltering global growth.
The official Purchasing Managers’ Index is forecast at 49.5, up slightly from February’s 49.2 but still below the 50 level separating expansion from contraction on a monthly basis, according to the median forecast of 24 economists. Regulators have fast tracked billions of dollars in infrastructure investment, but construction is only beginning to pick up with the return of warmer weather.
U.S. officials told Reuters on Wednesday that the United States and China have made progress in all areas under discussion in trade talks, with unprecedented movement on the touchy issue of forced technology transfers.Much of the data China reported for the first two months of the year pointed to a further weakening in the economy, though officials have largely attributed the declines to distortions created by the long holidays.
Earlier this month, Li announced more spending on roads, railways and ports, along with tax cuts of nearly 2 trillion yuan to relieve pressure on strained corporate balance sheets and limit job losses.Beijing is targeting economic growth of 6.0-6.5 percent this year. Actual growth cooled to 6.6 percent last year - the slowest in 28 years.
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