Reported about 1 year ago
On June 30, the Chinese National Bureau of Statistics released the official Purchasing Managers' Index (PMI) for the manufacturing sector for June, which remained unchanged at 49.5 from the previous month. Despite meeting market expectations, staying below 50 for two consecutive months indicates a slow economic recovery. The data revealed declines in production and new orders, reflecting insufficient market demand, while factors like falling commodity prices and weak demand affected input and output prices. Experts suggest that although manufacturing is expanding, future economic growth faces downward pressure due to lackluster demand. Additionally, the Non-Manufacturing PMI for June was reported at 50.5, below expectations and declining for the third consecutive month, signaling a slowdown in the overall service industry momentum.
Source: YAHOO