Caixin Manufacturing PMI Falls to Four-Month Low

(Beijing) – Chinese manufacturers reported the sharpest deterioration in operating conditions in four months in June amid economic weakness at home and abroad, with the Caixin China Purchasing Managers' Index coming in at 48.6.

The reading is lower than May's 49.2, partly because output fell at the quickest pace since February. Figures above 50 indicate expansion, while those below signify economic contraction. The June figure was the lowest since January, when the PMI dipped to 48.4, and marks the 16th consecutive month of contraction.