China’s manufacturing sector experienced a noticeable slowdown in May, adding to concerns about the overall health of the world’s second-largest economy. Official data released by the National Bureau of Statistics showed the Purchasing Managers’ Index falling to 49.5 from 50.4 in April, slipping below the 50-point threshold that separates expansion from contraction. This marks the first contraction in factory activity since December and highlights softening momentum across industrial production as domestic demand remains uneven and external pressures mount. The decline reflects broader challenges facing Chinese policymakers who have been attempting to stabilize growth following a shaky post-pandemic recovery. Weakness in property markets, cautious consumer spending, and subdued global trade volumes have combined to create headwinds for manufacturers.…