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7/1, 3:54 AM (Source: TeleTrader)
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China manufacturing sector strengthens in June

The seasonally adjusted figure saw Caixin China General Manufacturing PMI standing at 51.2 in June, according to a report released by the IHS Markit on Wednesday.

The data shows China’s manufacturing sector marking a monthly rise in business activity compared to the increase seen in May, with the rate of improvement at its strongest since December 2019. The upturn in the sector was largely attributed to authorities easing measures related to the coronavirus pandemic.

"Overall manufacturing demand recovered at a fast clip, but overseas demand remained a drag. Production expanded for the fourth straight month in June, but the pace was slower than the previous month. In contrast, demand improved remarkably. The subindex for total new orders expanded for the first time since January, as gradual lifting of epidemic control measures allowed production to return to normal, " Senior Economist at Caixin Insight Group Dr. Wang Zhe commented.

Breaking the News / NL