China’s Factory Activity Expansion Loses Momentum, Caixin PMI Shows

The recovery in China’s manufacturing sector lost a step in June, a Caixin-sponsored survey showed Monday, despite government efforts to prop up the economy.

The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives an independent snapshot of the sector, slipped to 50.5 from 50.9 the previous month. A reading below 50 indicates a contraction in activity, while a number above that signals an expansion.