A Chinese manufacturing index fell to its lowest level in 10 months, adding to signs that economic growth is cooling after the government raised interest rates and curbed lending to rein in inflation. The preliminary purchasing managers’ index compiled by HSBC Holdings Plc and Markit Economics dropped to 51.1 in May from a final reading of 51.8 in April. A number above 50 indicates expansion.
Stocks in China extended declines after the report, with the benchmark indexdropping to its lowest since February, on concern the government’s measures to tame inflation will damp growth and corporate earnings.
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