Business activity in China’s industrial sector declined in June

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Business activity in the processing industry of China remained weak in June. According to official data, the corresponding PMI did not rise above 50 points, retaining the value of May at 49.4 points. Thus, the weakening of activity is observed for two months in a row. Experts had expected the index to increase to 49.5 points. Major manufacturing companies recorded a drop in PMI to 49.9 points from 50.3 points in May. In medium-sized enterprises, the index rose to 49.1 points from 48.8 points. The PMI of small firms was 48.3 points, up from 47 points a month earlier. The indicator characterizing the level of new orders dropped to 49.6 points from 49.8 points. Growth in export orders was also weak, as indicated by a decrease in the corresponding indicator to 46.3 points from 46.5 points.

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