China’s Official Manufacturing PMI Strengthens Unexpectedly in June

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Friday, Jun 30 2017

China’s Official Manufacturing PMI Strengthens Unexpectedly in June

The Chinese economy grew at a slightly faster pace in June, with broad measures of manufacturing and services activity pointing to steady gains for the world’s biggest exporter. Beijing’s official manufacturing purchasing managers’ index (PMI), which focuses on large and state-run companies, climbed to half a point to 51.7 in June. Analysts called for a slight dip to 51.0.

A separate gauge of China’s services sector also strengthened in June. The official non-manufacturing PMI rose to 54.9 after edging up to 54.5 the previous month. On the PMI scale, a reading above 50 points to expansion in the sector. A total of 4,200 purchasing managers are consulted on the monthly PMIs.

More in this category: « Unemployment Claims rose to 244,000 UK Current Account deficit rose to £16.9 billion »

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