China’s manufacturing sector showed scant signs of picking up in May as demand stayed stubbornly weak, while exports in South Korea suffered their biggest annual drop since the global financial crisis, grim readings which prompted calls for bolder stimulus measures. Japanese manufacturers, however, saw a rebound in new orders while Indian factories enjoyed solid domestic demand, offering a glimmer of hope for a region struggling to gain traction in the second quarter. The focus now shifts to the United States and parts of Europe, where hopes are pinned on stronger factory activity to offset the global downdraft from China. ECONEZECONUS China reported on Monday its official manufacturing Purchasing Managers’ Index (PMI) edged up to 50.2 in May, from 50.1 in April and creeping back into expansion territory. But a private survey focusing on small and mid-sized firms showed their activity had contracted for a third straight month. The final […]