China Caixin PMI Manufacturing rose to 51.2 in June, up from 50.7, beat expectation of 50.5. Markit said output expands again as sector continues to recover from the coronavirus crisis. Total new work increases for the first time since January, but external demand remains subdued.
Wang Zhe, Senior Economist at Caixin Insight Group said: “Around mid-June, the epidemic flared back up in some parts of China, but its impact on the overall economy was limited. The gauge for future output expectations continued to rise in June, reflecting manufacturers’ confidence that there would be a further relaxation of epidemic controls and a normalization of economic activities.”