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Malaysia s manufacturing PMI rises to 50 2 in May | Borneo Bulletin Online

Malaysia s manufacturing PMI rises to 50 2 in May | Borneo Bulletin Online
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COVID-19: Lockdowns in China affect spending

China’s services sector took a massive knock last month amid the nation’s worst COVID-19 outbreak since the start of the pandemic, with latest holiday spending figures showing that more damage is expected this month. The Caixin China Services Purchasing Managers’ Index (PMI) fell to 42 from 50.2 in February, the lowest since the depths of the 2020 lockdown after the initial outbreak in Wuhan. The reading was below the 50 mark that separates expansion from contraction and well below the 49.7 median estimate in a survey of economists. Spending over the Tomb Sweeping Day holiday points to weak data for this month as

COVID-19: HK boosts consumer support measures

Hong Kong Financial Secretary Paul Chan (陳茂波) outlined new support measures for consumers and the unemployed as an escalating COVID-19 outbreak takes a toll on the territory’s economy. The Hong Kong government would give HK$10,000 (US$1,282) in spending vouchers to eligible residents, Chan said in his budget speech yesterday, while also earmarking HK$20 billion for “other potential anti-epidemic” needs. The economy is being battered by an outbreak of the Omicron variant of SARS-CoV-2 that has caught officials off guard. With daily COVID-19 cases topping 9,000, the government has banned travel from several countries, closed schools and restricted dining at restaurants. Stricter measures

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