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China's Weakening Demand Signals Broad Economic Slowdown

China's manufacturing sector showed signs of strain in April as solar installations declined for a fourth consecutive month. This reflected persistent domestic demand weakness. The slowdown extended across multiple industries, with credit growth missing expectations as banks issued fewer new loans than anticipated. Government spending contracted at its fastest pace in six months, adding pressure to economic activity. Iron ore prices fell to two-week lows in Singapore amid concerns about weakening steel demand from China's construction and industrial sectors. The convergence of falling investments, reduced credit expansion, and cutbacks in public expenditure suggests broader economic headwinds. In contrast, US pending home sales rose for a third straight month in April, indicating resilience in North American real estate markets as the spring season gained momentum.