Market

China’s factory activity expands at a slightly slower pace in June – official PMI By Reuters

© Reuters. FILE PHOTO: A man walks inside a steel plant of Delong Steel in Xingtai, Hebei province, China June 20, 2019. REUTERS/Muyu Xu/File Photo

BEIJING (Reuters) – China’s factory activity expanded at a slightly slower pace in June, as high raw material costs and port disruptions in the export province of Guangdong affected business activity.

The official manufacturing Purchasing Manager’s Index (PMI) eased to 50.9 in June from 51 in May, data from the National Bureau of Statistics (NBS) showed on Wednesday, remaining above the 50-point mark that separates growth from contraction.

Analysts had expected it to slip to 50.8.

The world’s second-largest economy has largely recovered from disruptions caused by the pandemic, but Chinese manufacturers are grappling with new challenges from higher raw material costs to global supply chain bottlenecks.

An outbreak of COVID-19 infections in China’s major export province of Guangdong has also disrupted shipments.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button