Reuters reported that 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 southern export powerhouse of Guangdong.

“The recovery momentum is moderating, and there is still unevenness across sectors ... this likely points to Beijing staying on hold with ‘no sharp turns’ in its policy stance,” said Chen Jingyang, economist for Greater China, expecting one-year LPR to stay on hold this year but with more targeted supportive measures for the hard hit SMEs.

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Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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