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MNI DATA BRIEF: COVID-19 Resurgence Hits Caixin China Manufacturing PMI

Main index at a three-month low

MNI (Singapore)
BEIJING (MNI)

Caixin China's manufacturing PMI for June edged down 0.7 points on month to 51.3, a three-month low as activity was hit by a resurgence in COVID-19 cases, the financial publisher said on Thursday.

The lower PMI was due to decelerated production and weaker demand at home and abroad, even though it was the 14th straight month above the breakeven 50.0 level.

Still, the production sub-index fell to the lowest level since April 2020. The new order sub-index also fell to a three-month low, while the new export order sub-index was just above 50.0. The pandemic situation home and abroad has negatively affected both supply and demand sides, Caixin said.

Caixin's PMI tracks small and medium-sized manufacturers, while the official PMI covering large state-owned companies and released on Wednesday fell 0.1 to 50.9 in June from May.


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