MNI DATA IMPACT: China June PMI Rises Steadily To 50.9

     BEIJING (MNI) - China's manufacturing Purchasing Manager Index (PMI) stood

above breakeven for a fourth month at 50.9 in June, following 50.6 in May. The

rise mirrored a stable recovery in both supply and demand after authorities

further eased lockdowns, according to the latest data from the National Bureau

of Statistics released on Tuesday.   

     MNI highlights the following key points in the NBS statement:

     - The production sub-index edged up to 53.9 from last month's 53.2, above

the breakeven for the fourth month, indicating continued improvement in

production.

     - The new-order sub-index climbed for the second month to 51.4 from 50.9 in

May, reflecting increased demand in the manufacturing industry.

     - The new-export-order sub-index, a leading indicator for China exports,

was at 42.6, up 7.3 points from May's 35.3. Though rising significantly, the

reading remained in the contraction zero below 50, the NBS said, noting that the

pandemic has not been effectively controlled overseas, and there are still

uncertainties in the external market.

     - Non-manufacturing PMI rose for a fourth month in June to 54.4 from

previous 53.6, led by a recovery in the construction industry. The recovery in

the manufacturing industry has further consolidated, driving the increase in the

business volume of related service sectors, the NBS said.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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