Catherwood LibraryILR School

Manufacturing and global trade rates rose in both India and China in May, while rates in Europe continued to remain far to the contraction side of the expansion-contraction scale. China's manufacturing registered at 53.1 for May, slightly lower than in April, but still firmly expanding. Europe's rate was only 40.7, though this does represent almost a 4-point improvement over April. Gross Domestic Product in China is expected to expand at a rate of 8% this year, significantly lower than in the past few years, but markedly higher than the rates in many of the European countries affected strongly by the recession. However, trade data has been poor in several other Asian nations, and it is expected that decreased demand from Europe and the US could have a negative effect on Asian economies.