The tariff war drags down economic prosperity, and corporate expectations fall to historic lows

On May 6, Jin Shi Data reported that the details of reciprocal tariffs have impacted exports and corporate expectations, leading to a slowdown in China's economic expansion in April. The recently released Caixin China General Manufacturing PMI for April recorded 50.4, down 0.8 percentage points from the previous month, marking the lowest level in three months; the Caixin China Services PMI also fell by 1.2 percentage points to 50.7, the lowest since the fourth quarter of 2024. Both major sectors saw a decline in prosperity, with the Caixin China Composite PMI decreasing by 0.7 percentage points to 51.1 for the month. (Caixin) #美联储FOMC会议