Official and private surveys showed China’s factory activity slowed in June 2023 as growth momentum in the world’s second-largest economy stalled.
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China’s factory activity grew more slowly in June, a private sector survey showed on Monday, corroborating official data last week that pointed to faltering growth in the world’s second-largest economy.
The Caixin/S&P Global Manufacturing Purchasing Managers’ Index fell to 50.5 in June from 50.9 in May. Economists had expected the reading to hit 50.2 in June, according to a Reuters poll. The 50-point mark separates expansion from contraction.
China’s National Bureau of Statistics released data last Friday showing the country’s official manufacturing PMI came in at 49.0 in June, compared with 48.8 in May.
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