Data from China’s National Bureau of Statistics showed that manufacturing activity contracted for the third consecutive month in June, despite Beijing’s stimulus efforts which have stabilized parts of the industrial sector.
The official Purchasing Managers’ Index (PMI) edged up slightly to 49.7, but remained below the 50 mark that separates expansion from contraction. The sub-index for production rose to 51, and new orders increased to 50.2, indicating some improvement. However, inventories and employment continued to decline, with inventory at 48 and employment at 47.9.
Source: (CNBC Arabia Website, Edited)
