BEIJING: China’s manufacturing activity ticked up in June but remained in contraction territory, official data showed on Monday, as the truce in its trade war with the United States held.
The Purchasing Managers’ Index -- a key measure of industrial output -- came in at 49.7, according to the National Bureau of Statistics (NBS).
The figure was higher than May’s 49.5 and slightly above the 49.6 estimated by a Bloomberg pool of analysts.
However, it fell below the 50-point mark that separates growth and contraction for the third straight month.
China’s “economic prosperity level remained expansionary overall” in June, NBS statistician Zhao Qinghe said in a statement.
“Manufacturing production activity accelerated, and market demand improved,“ Zhao said.
China’s economy has struggled to sustain its post-pandemic recovery as it battles a prolonged debt crisis in the crucial property sector, chronically low consumption and elevated youth unemployment.
It has also been hit by a fusillade of import tariffs unleashed by US President Donald Trump since the start of the year.
However, Beijing and Washington called a truce on the staggeringly high duties in May, and Trump said on Sunday that the United States was “getting along well with China”.
Hence then, the article about china manufacturing shrinks in june despite trade war respite was published today ( ) and is available on Daily Sun ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( China manufacturing shrinks in June despite trade war respite )
Also on site :
- Disgraced former Centinela Valley schools Superintendent Jose Fernandez dies
- Outsiders see a circular economy. CoreWeave’s CEO sees a ‘violent change’ rattling the supply chain down to the inside of the earth
- Tyler Perry Sued for Sexual Assault By New Accuser, an Actor in a ‘Madea’ Movie