China Caixin PMI Manufacturing dropped to 51.3 in June, down from 52.0, below expectation of 51.8. Markit noted increase in output was softest for 15 months. Total new order growth slowed as export sales stagnated. Employment continued to inc rea sew while cost pressures eased.
Wang Zhe, Senior Economist at Caixin Insight Group said: “Overall, the manufacturing sector continued to stably expand in June, despite the impact of the pandemic…. The manufacturing sector has gradually returned to normal. In the second half of this year, the low base effect from last year will weaken. Inflationary pressure, coupled with the economic slowdown, is still a serious challenge for China.”
