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MNI BRIEF: Caixin China June Manufacturing PMI At 1-Year High

MNI (Singapore)
BEIJING (MNI)

Caixin China's manufacturing PMI for June rose 3.6 points on month to 51.7, rebounding back to the expansion zone above 50 for the first time in four months and hitting the highest level since June 2021, as the resumption of work and production continue to advance following an easing pandemic situation, financial publisher Caixin said on Friday.

Supply strengthened significantly in June, with the production sub-index hitting a new high since December 2020. But the overall market demand is relatively weak and the new orders sub-index rose only slightly above the breakeven 50. External demand also improved, with the new export orders sub-index rising to expansionary territory for the first time since August 2021.

Caixin's PMI tracks small and medium-sized manufacturers, while the official PMI also covering large state-owned companies and released on Thursday also rose 0.6 points to 50.2 in June from May. (SEE: MNI: Official China PMI In Expansion, But More Stimulus Needed).

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