China Manufacturing Sector Slows In June - Caixin
(RTTNews) - The manufacturing sector in China continued to expand in June, albeit at a slower pace, the latest survey from Caixin revealed on Monday with a manufacturing PMI score of 50.5.
That's down from 50.9 in May although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
After rising at the quickest rate in 11 months in May, Chinese manufacturing output expanded only slightly in June. Where production increased, companies often linked this to firmer demand conditions and greater intakes of new work.
Total new business expanded modestly in June, with the pace of growth slowing slightly from May. Data suggested that the upturn was largely driven by improved domestic sales, as new export business was broadly unchanged. There were a number of reports that relatively weak global economic conditions had dampened foreign demand.
Nevertheless, the back-to-back rise in total new order volumes led companies to expand their purchasing activity again in June. This in turn contributed to a further increase in inventories of inputs, though the rate of accumulation was only marginal. However, stocks of finished items fell slightly again.
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