Global factory growth stunted by war, China’s Covid curbs ...Qatar

Global growth in factory activity slowed in May as China’s strict coronavirus curbs and Russia’s invasion of Ukraine disrupted supply chains and dampened demand, adding to woes for businesses already struggling with surging raw material prices. Manufacturing growth slowed last month in economies as diverse as France, Japan to Malaysia, business surveys showed on Wednesday, illustrating the challenge policymakers face in trying to combat inflation while not stifling anaemic economic activity. S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) for the eurozone fell to 54.6 in May from April’s 55.5, its lowest since November 2020 though just ahead of a preliminary reading of 54.

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