China: Factory activity contracts again in June
June 23 , 2015
China’s factory activity contracted in June for the fourth straight month, but the sector is showing signs of stabilizing.
The HSBC/Markit flash PMI (purchasing managers' index) for manufacturing touched 49.6, the highest in three months — but was up from the May figure of 49.2.
Though the PMI count beat expectations, a below 50 reading continues to indicate contraction.
Meanwhile, exports in the world’s second largest economy have also dropped at a slower than expected rate.