July 01, 2024 04:21 GMT
MNI BRIEF: Caixin June Manufacturing PMI Hits Three-year High
MNI (Singapore)
MNI (Beijing)
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China's Caixin manufacturing PMI registered 51.8 in June, up 0.1 points from May, marking eight consecutive months above the 50 mark and hitting the highest level since June 2021, the financial publisher said on Monday.
The production sub-index rose within the expansion range for five consecutive months, with significant growth in consumer goods.
The new orders sub-index fell slightly but remained above 50. However, the new export orders sub-index dropped to its lowest in nearly six months, indicating a weakening in overseas demand.
Caixin's PMI mainly tracks SME manufacturers. The official PMI, which was released Sunday and typically covers large state-owned companies, registered 49.5 in June, flat from May's reading.
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