China Manufacturing Activity Recovers as Covid Curbs Eased, Caixin PMI Shows
Activity in China’s manufacturing sector rebounded into expansionary territory for the first time in four months in June, a Caixin-sponsored survey showed Friday, as production improved amid easing Covid-19 prevention and control measures.
The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives an independent snapshot of the country’s manufacturing sector, rose to 51.7 in June from 48.1 the previous month, the survey showed. A number above 50 signals an expansion in activity, while a reading below that indicates a contraction. The June reading was the highest since May 2021.
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