China’s economic recovery struggles go on as manufacturing activity contracts for third straight month in June
2023.06.30 09:49China’s factory picked up in June, but remained in contraction for a third straight month amid an overall slowing economic recovery, while expansion in the non-manufacturing sectors slowed last month, data released on Friday showed.The official manufacturing purchasing managers’ index (PMI) rose to 49 in June, up from 48.8 in May, according to the National Bureau of Statistics (NBS).The 50-mark separates growth from contraction on a monthly basis.The official non-manufacturing PMI, which measures business sentiment in the services and construction sectors, fell to 53.2 in June from 54.5 in May.China’s economic recovery has recently been hit by rising youth unemployment as well as disappointing retail sales and industrial production.More to follow …
China’s factory picked up in June, but remained in contraction for a third straight month amid an overall slowing economic recovery, while expansion in the non-manufacturing sectors slowed last month, data released on Friday showed.
The official manufacturing purchasing managers’ index (PMI) rose to 49 in June, up from 48.8 in May, according to the National Bureau of Statistics (NBS).
The 50-mark separates growth from contraction on a monthly basis.
The official non-manufacturing PMI, which measures business sentiment in the services and construction sectors, fell to 53.2 in June from 54.5 in May.
China’s economic recovery has recently been hit by rising youth unemployment as well as disappointing retail sales and industrial production.
More to follow …
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