BLOOMBERG China’s manufacturing activity unexpectedly contracted in April, a sign the economic recovery remains patchy and may be struggling to sustain momentum. The official manufacturing purchasing managers’ index (PMI) fell to 49.2 from 51.9 in March, the National Bureau of Statistics (NBS) said. The gauge dropped below the level of 50 — which signals contraction from the previous month — …

BLOOMBERG Singapore should avoid an outright contraction in its economy this year, despite being battered by the effects of a global slowdown, the city state’s prime minister said. While the city-state’s economic growth will slow, inflation may moderate in the second half of this year, Prime Minister Lee Hsien Loong said in an e-mailed speech. The Monetary Authority of Singapore …

BLOOMBERG Pakistan said inflation in April was expected to accelerate to a record after increases in food and energy prices and a depreciation in the currency. Price gains may be in a range of 36%-38% year-on-year, from 34.8% in March, the finance ministry said in its monthly Economic Update and Outlook. A slow recovery in damages from last year’s floods …