Official and private surveys showed China’s factory activity slowed in June 2023 as growth momentum stalls in the world’s second-largest economy.

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China’s factory activity grew more slowly in June, a private-sector survey showed on Monday, corroborating official data last week that pointed to stuttering growth in the world’s second-largest economy.

The Caixin/S&P Global manufacturing purchasing managers’ index slipped to 50.5 in June from 50.9 in May. Economists expected the reading to hit 50.2 for June, according to a Reuters poll. The 50-point mark separates expansion from contraction.

China’s National Bureau of Statistics released data last Friday that showed the country’s official manufacturing PMI coming in at 49.0 in June — compared with 48.8 in May.

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Source link: https://www.cnbc.com/2023/07/03/china-caixin-manufacturing-pmi-june.html