China official PMI Manufacturing dropped slightly to 50.9 in June, down from 51.0, above expectation of 50.7. Production index dropped from 52.7 to 51.9, hitting a four-month low. Total new orders rose from 51.3 to 51.5. But new export orders dropped further from 48.3 to 48.1. Raw material costs eased from 72.8 to 61.2, after the government’s crackdown on prices.
PMI Non-Manufacturing dropped to 53.5, down from 55.2, below expectation of 50.7.
