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MNI BRIEF:China June PMI Contracts For 2nd Straight Month

MNI (Singapore)
MNI (Beijing)

China's Manufacturing Purchasing Managers Index shrank for a second straight month in June, registering 49.5, flat from May's reading, while non-manufacturing PMI slowed to the lowest level this year, data from the National Bureau of Statistics showed Sunday.

The production sub-index fell 0.2 points to 50.6, still above the 50 mark. However, the new orders sub-index fell by 0.1 points to 49.5 as enterprises reported insufficient effective demand.

Non-manufacturing PMI registered 50.5, down 0.6 points from the previous month to hit a six-month low. The business activity index in the service sector decreased by 0.3 points to 50.2, with air freight, postal, and insurance services standing above 55.0, but capital and real estate markets continued to run at low levels, the NBS said.

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