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MNI: Official China PMI In Expansion, But More Stimulus Needed

MNI (Singapore)

An upbeat reading from the purchasing managers’ index chases away some gloom on China’s economic outlook.

True

The Chinese economy is accelerating from months of strict pandemic restrictions, with the latest view on manufacturing and services now well into expansion territory, but further pro-growth policies are required to keep the momentum, according to analysts.

The official manufacturing purchasing managers index rose to 50.2 in June from May’s 49.6, the first time since February for the index to rise back above the breakeven 50, data by the National Bureau of Statistics showed on Thursday.

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The Chinese economy is accelerating from months of strict pandemic restrictions, with the latest view on manufacturing and services now well into expansion territory, but further pro-growth policies are required to keep the momentum, according to analysts.

The official manufacturing purchasing managers index rose to 50.2 in June from May’s 49.6, the first time since February for the index to rise back above the breakeven 50, data by the National Bureau of Statistics showed on Thursday.

Keep reading...Show less