July 3, 2020
AliExpress WW
China declares its production activities expanded in June

China declares its production activities expanded in June

AliExpress WW

A truck welding worker at a factory in Weihai, China, on October 18, 2018.

AliExpress WW

STR | AFP | Getty images

China said on Tuesday that manufacturing activity expanded in June, with an official index of purchasing managers of 50.9.

Economists polled by Reuters The official PMI for production was expected to be 50.4. PMI readings above 50 indicate expansion, while values ​​below this level indicate reduction.

According to the National Bureau of Statistics, in May the official manufacturing PMI was 50.6. PMI readings are consistent.

The bureau said in a statement reading the business activity index that supply and demand are starting to grow, while the index of new orders has been growing for two consecutive months, according to a CNBC translation. Improving performance in both import and export indices also helps, as major economies reopen.

However, uncertainty remains, the bureau warned, adding that the pandemic was not effectively controlled abroad.

Manufacturing activities in China have been affected by shocks in both demand and the large-scale blockage in many parts of the world aimed at containing the coronavirus pandemic. The virus first appeared late last year in the central Chinese city of Wuhan.

While Chinese factories have had problems fulfilling orders in the early stages of the pandemic, they are currently facing declines in demand worldwide as the number of infected people has exceeded the 10 millionth threshold, according to Johns Hopkins University.

Another factory dataset will be released on Wednesday by Caixin and IHS Markit. In this private survey, a large number of small and medium-sized firms are represented. In comparison, an official PMI survey typically polls a large proportion of large enterprises and state-owned companies.

This is the latest news. Please stay tuned.

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