MNI BRIEF: China's June Manufacturing Contracts Steady At 49
Jun-30 02:45By: MNI Editorial 2
PBOC+ 1
China's Purchasing Managers' Index contracted for the third straight month, registering 49 in June, rebounding slightly from 48.8 in May though still below the breakeven 50 mark, data from the National Bureau of Statistics showed Friday.
The production sub-index marked 50.3 in June, higher than May's 49.6 reading and rising back to the expansion zone as factory activities accelerated, the NBS said. The new orders sub-index – a gauge of demand – printed at 48.6, an improvement from last month's 48.3.
Non-manufacturing PMI registered 53.2, a further fall from last month's 54.5. Business activity indices in the service and construction sectors declined by 1 and 2.5pp, the NBS added.
