China: Factory activity contracts again in June

  • 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.

    Tagged as: China, factory activity, HSBC Markit flash, PMI, PMI count, China exports, China economy, Chinese growth, business news